![Assessee Fails to Prove Genuineness and Creditworthiness: ITAT upholds ₹75.6 Income Tax Disallowance Lakh against Interest on Unsecured Loans [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/500x300_2065036-unsecured-loans-disallowance-income-tax-taxscan.webp "Assessee Fails to Prove Genuineness and Creditworthiness: ITAT upholds ₹75.6 Income Tax Disallowance Lakh against Interest on Unsecured Loans [Read Order]")
Assessee Fails to Prove Genuineness and Creditworthiness: ITAT upholds ₹75.6 Income Tax Disallowance Lakh against Interest on Unsecured Loans [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of interest expenditure of ₹75,63,295 for Assessment...
![Accommodation Entries Received in Guise of Unsecured Loan from Shell Companies: ITAT Directs Revenue to Examine Tax Evasion [Read Order]](https://images.taxscan.in/h-upload/2025/06/28/250x150_2055597-accommodation-accommodation-entries-received-entries-received-in-guise-unsecured-loan-taxscan.webp "Accommodation Entries Received in Guise of Unsecured Loan from Shell Companies: ITAT Directs Revenue to Examine Tax Evasion [Read Order]")
![ITAT finds Unsecured Loans from Related Party on Account of Takeover Genuine as Actual Transaction Happened [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-finds-Unsecured-Loans-Unsecured-Loans-Account-of-Takeover-Actual-Transaction-Transaction-Account-of-Takeover-Genuine-taxscan.jpg "ITAT finds Unsecured Loans from Related Party on Account of Takeover Genuine as Actual Transaction Happened [Read Order]")
![AO adds unsecured loans as unexplained credit citing lenders lack of creditworthiness: ITAT confirms genuineness by copies of ITR, bank statements [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-unsecured-loans-as-unexplained-credit-unsecured-loans-unexplained-credit-taxscan.jpg "AO adds unsecured loans as unexplained credit citing lenders lack of creditworthiness: ITAT confirms genuineness by copies of ITR, bank statements [Read Order]")
![ITAT Remands Case Back to CIT(A) for Fresh Adjudication Over Unsecured Loans of Rs.1.42 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Remands-Case-CITA-Unsecured-Loans-Fresh-Adjudication-Over-Unsecured-Loans-taxscan.jpg "ITAT Remands Case Back to CIT(A) for Fresh Adjudication Over Unsecured Loans of Rs.1.42 Crore [Read Order]")
![ITAT deletes Addition made by AO for Unsecured Loans, affirming Validity of Sources [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-ITAT-Deletes-Income-Tax-Appellate-Tribunal-unsecured-loans-Affirming-Validity-of-Sources-Validity-of-Sources-taxscan.jpg "ITAT deletes Addition made by AO for Unsecured Loans, affirming Validity of Sources [Read Order]")
ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently directed readjudication with respect to interest paid to the related persons and family members for availing of unsecured loans. ...
![ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Readjudication-Interest-paid-Unsecured-Loans-TAXSCAN.jpg "ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]")
Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Revenue cannot disallow interest expenditure on the presence of common management and unity of control. The AO on...
![Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Common-Management-Unity-of-Control-ITAT-Revenue-Interest-Expenditure-taxscan.jpg "Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]")
ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that since the assessee has paid the interest to the unsecured loan creditors on opening balances the order of the Commissioner of Income...
![ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-Deletion-of-Disallowance-of-interest-on-unsecured-loans-Deletion-of-Disallowance-of-interest-interest-to-unsecured-loan-creditors-opening-balances-taxscan.jpg "ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]")
No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that no additions shall be made under Section 68 of the Income Tax Act, 1961 on unsecured loans if the assessee furnishes proper...
![No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Additions-No-Additions-Income-Tax-Act-Unsecured-Loans-ITAT-taxscan.jpg "No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]")
Failure to Prove Authenticity of Loan Transactions: ITAT holds Unsecured Loans as Unexplained Cash Credits u/s 68 of Income Tax Act
The Raipur bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the decision of the lower authority held that unsecured loans are unexplained cash credits under Section 68 of Income Tax...
Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai has held that unsecured loans are taken through banking channels from Directors / Shareholders and upholds deletion of addition under section 68 of...
![Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unsecured-Loans-Banking-Shareholders-ITAT-taxscan.jpg "Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]")