The Assessing Officer had made additions of Rs.2,67,05,957 under Section 68 concerning unexplained unsecured loans and Rs.50,05,512 under Section 37 relating to interest expenses on those loans. The ITAT recorded that the entire loan amount had been repaid either during the relevant year or in subsequent assessment years. The ITAT held that the assessee had discharged its onus of establishing the identity and creditworthiness of the creditors and the genuineness of the loan transactions. Since the Section 68 addition was deleted, the ITAT also deleted the related disallowance of interest. Before the High Court, the Revenue raised questions concerning the unexplained unsecured loans, interest disallowance, and the assessee’s failure, as alleged in the grounds, to establish the sources and genuineness of the lenders.