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2023 (5) TMI 36 - ITAT SURATAddition u/s 68 - unsecured loan taken - assessee is one of the beneficiary of such accommodation entry from the list of beneficiary form various entity managed by Anand Kumar - HELD THAT:- When assessee provided identity by giving complete addresses, GIR numbers/PAN as well as confirmation alongwith copies of assessment order wherever available and discharged his onus, no addition to be sustained. Loan was received and was repaid through banking channel and there is no allegation that any cash was deposited before issuing cheque to the assessee, in the account of lender. Lender has sufficiently owned money in the form of reserve and surplus of Rs. 11.94 crores. We direct the Assessing Officer to delete the addition of unsecured loan of Rs. 9.50 lacs. Addition of alleged commission paid made u/s 69C is also deleted. Appeal of assessee allowed.
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