https://www.taxtmi.com/caselaws?id=799672 Section 68 permits an unexplained-credit addition only where a credit is entered in the relevant previous year and the taxpayer fails to establish the investor's identity, creditworthiness and the transaction's genuineness. Confirmations, tax records, audited financials, banking trails and source-of-source material support those requirements unless contrary evidence discredits them. Repayment of an existing loan balance, without receipt of a fresh loan, does not create a relevant-year credit. An investor's accepted funding source may satisfy source-of-source requirements, while a Section 132(4) statement must specifically link the investor or transaction to an accommodation entry. A commission addition requires an independent evidentiary basis. en-us Wed, 16 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799672 Section 68 permits an unexplained-credit addition only where a credit is entered in the relevant previous year and the taxpayer fails to establish the investor's identity, creditworthiness and the transaction's genuineness. Confirmations, tax records, audited financials, banking trails and source-of-source material support those requirements unless contrary evidence discredits them. Repayment of an existing loan balance, without receipt of a fresh loan, does not create a relevant-year credit. An investor's accepted funding source may satisfy source-of-source requirements, while a Section 132(4) statement must specifically link the investor or transaction to an accommodation entry. A commission addition requires an independent evidentiary basis. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799672