TMI BlogAddition u/s 68 - unsecured loan - unexplained cash credit - the assessee has discharged the primary...Addition u/s 68 - unsecured loan - unexplained cash credit - the assessee has discharged the primary onus by proving the identity of the creditor, genuineness of the transaction as well as the creditworthiness of the creditors. The loan so obtained was not only reflected in the respective books of account and also bank statements - We are of the view that Commissioner (Appeals) was justified in deleting the addition made by the AO. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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