Section 68 of Income Tax Act, 1961 - Cash Credit - The assessee filed its return of income, declaring loss of Rs. 34,01,458/-. According to the AO due to non-compliance by the assessee company, verification of the genuinely of the transactions, identity and creditworthiness of the lending companies could not be done and accordingly, made an addition of the entire loan amount as unexplained and added u/s 68 of the Act. CIT(A) deleted the additions. Tribunal dismissed the appeal of the revenue agreeing the opinion of the CIT(A) that assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the lender companies. - DEPUTY CIT V/s R.M. COMMERCIAL PVT. LTD. - [2020] 204 TTJ 940 (ITAT-KOLKATA)