https://www.taxtmi.com/caselaws?id=800808 Section 68 requires an assessee claiming unsecured loans to establish the creditor's identity, financial capacity and the genuineness of the transaction through cogent evidence. Confirmations and payment by cheque alone do not establish creditworthiness where creditors deny advancing the loans or cannot satisfactorily explain their funding sources and preceding cash deposits. Failure to discharge this initial burden supports an addition for unexplained cash credits, and a concurrent factual finding that creditors lacked creditworthiness is not perverse on those circumstances. en-us Thu, 01 Oct 2026 00:00:00 +0530 Mon, 12 Oct 2026 04:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800808 Section 68 requires an assessee claiming unsecured loans to establish the creditor's identity, financial capacity and the genuineness of the transaction through cogent evidence. Confirmations and payment by cheque alone do not establish creditworthiness where creditors deny advancing the loans or cannot satisfactorily explain their funding sources and preceding cash deposits. Failure to discharge this initial burden supports an addition for unexplained cash credits, and a concurrent factual finding that creditors lacked creditworthiness is not perverse on those circumstances. Case-Laws Income Tax Thu, 01 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800808