https://www.taxtmi.com/caselaws?id=799947 Unsecured corporate loans supported by lender confirmations, income-tax returns, financial statements and bank records satisfy the assessee's initial Section 68 burden on identity, creditworthiness and genuineness. Additions cannot rest solely on Investigation Wing information or a retracted accommodation-entry statement where no independent lender verification or contrary material exists. A lender's later striking off does not negate loans advanced and repaid when it was active. The second proviso's source-of-source requirement applies only from assessment year 2023-24 and did not govern the years concerned; the loans were satisfactorily explained. en-us Fri, 18 Sep 2026 00:00:00 +0530 Tue, 29 Sep 2026 08:34:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799947 Unsecured corporate loans supported by lender confirmations, income-tax returns, financial statements and bank records satisfy the assessee's initial Section 68 burden on identity, creditworthiness and genuineness. Additions cannot rest solely on Investigation Wing information or a retracted accommodation-entry statement where no independent lender verification or contrary material exists. A lender's later striking off does not negate loans advanced and repaid when it was active. The second proviso's source-of-source requirement applies only from assessment year 2023-24 and did not govern the years concerned; the loans were satisfactorily explained. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799947