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2018 (9) TMI 150 - ITAT DELHIAddition u/s 68 on account of unsecured loans taken from five persons - Held that:- Here in this case, the nature of credit appearing in the books of accounts of the assessee is in the form of loan on which assessee has paid interest to the creditors and also deducted TDS. These loans have come through banking channels i.e., which has been received through account payee cheque in the bank account of the assessee through clearing and the same has been recorded in the books of accounts. To prove the prima-facie source of such credits the assessee had filed; i) PAN and income tax returns alongwith complete address; ii) bank statement of the creditors and that of the assessee; iii) ledger account and other details. Addition aggregating to ₹ 19 lacs made on account of unsecured loans u/s 68 is directed to be deleted. - Decided in favour of assessee
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