https://www.taxtmi.com/caselaws?id=472423 Section 68 cash-credit addition for an unsecured loan was unsustainable because creditor confirmation, ledger accounts, tax records, financial statements and bank statements established the creditor's identity, creditworthiness and prima facie genuineness. Recorded interest payments and subsequent repayment supported the transaction, while the creditor's funds showed no cash deposits immediately before the advance. A retracted general allegation concerning accommodation entries, without material linking the borrower to a cash-for-cheque arrangement, could not displace the documentary evidence. In the absence of effective enquiry or rebuttal, the unexplained cash-credit addition was deleted. en-us Tue, 31 Oct 2023 00:00:00 +0530 Mon, 12 Oct 2026 17:58:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472423 Section 68 cash-credit addition for an unsecured loan was unsustainable because creditor confirmation, ledger accounts, tax records, financial statements and bank statements established the creditor's identity, creditworthiness and prima facie genuineness. Recorded interest payments and subsequent repayment supported the transaction, while the creditor's funds showed no cash deposits immediately before the advance. A retracted general allegation concerning accommodation entries, without material linking the borrower to a cash-for-cheque arrangement, could not displace the documentary evidence. In the absence of effective enquiry or rebuttal, the unexplained cash-credit addition was deleted. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472423