Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT

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Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT

Direct Tax

Published on

16/04/2026

By Mariya Paliwala

Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT

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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s appeal against M/s Minda Capital Pvt. Ltd., holding that refund of a loan cannot be treated as unexplained cash credit under Section 68 of the Income Tax Act. The bench of Mahavir Singh (Vice President) and Manish Agarwal (Accountant Member) has…

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Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT

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