Deletion of ₹11.54 Crore Addition on Unsecured Loans: ITAT Partially Restores Addition Citing Lack of Proof for Creditworthiness

The article covers an ITAT decision restoring part of an ₹11.54 crore addition on unsecured loans earlier deleted by lower authorities. The department contended that the assessee failed to prove genuineness and creditworthiness of lenders. The tribunal reviewed documents and found missing corroboration such as bank trails and financial capacity proofs, hence partially upheld addition. The order reiterates burden of proof principles under Section 68 and stresses that deletion must be supported by reliable evidence. The decision underscores balanced adjudication—protecting revenue interest while ensuring fairness through reasoned assessment.