https://www.taxtmi.com/caselaws?id=472556 Section 68 cash-credit additions for unsecured loans cannot be sustained where unrebutted lender confirmations, income-tax returns, bank statements, computations and ledger accounts establish creditor identity, creditworthiness and transaction genuineness. Interest payments after tax deduction at source further support the loan transactions. Additions for alleged bogus purchases are unsupported where purchase bills, VAT/GST returns and supplier account statements corroborate the purchases, figures match the supplier's books, and no discrepancies in statutory returns or other adverse material are established. On these evidentiary bases, both additions were deleted. en-us Tue, 22 Apr 2025 00:00:00 +0530 Thu, 15 Oct 2026 19:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472556 Section 68 cash-credit additions for unsecured loans cannot be sustained where unrebutted lender confirmations, income-tax returns, bank statements, computations and ledger accounts establish creditor identity, creditworthiness and transaction genuineness. Interest payments after tax deduction at source further support the loan transactions. Additions for alleged bogus purchases are unsupported where purchase bills, VAT/GST returns and supplier account statements corroborate the purchases, figures match the supplier's books, and no discrepancies in statutory returns or other adverse material are established. On these evidentiary bases, both additions were deleted. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472556