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2018 (8) TMI 2127 - ITAT KOLKATAAddition u/s 68 - assessee is a proprietor of a rice mill and has taken unsecured loan of Rs. 50 lacs from two legal entities - CIT(A) deleted the addition - HELD THAT:- We note that the assessee has discharged the onus casted upon him to prove the identity, creditworthiness and genuineness of the lenders. We note that assessee has returned the loan through account payee cheque before 24.05.2013 to both lenders which facts could not be controverted by the revenue. In such a scenario, the factual finding of Ld. CIT(A) cannot be disturbed and so we confirm the same. Appeal of revenue is, therefore, dismissed.
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