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2023 (7) TMI 1276 - ITAT DELHIAddition u/s. 68 - unexplained cash credit - discharge of onus to prove or not? - HELD THAT:- Assessee has successfully discharge onus lay on him as per requirement of section 68 of the Act and hence proved identity, capacity and creditworthiness of lender company and genuineness of transaction and no addition u/s. 68 of the Act was required to be made thus he was right in deleting the addition. Our conclusion also gets strong support from the judgments of CIT vs Odeon Builders Pvt. Ltd. [2019 (8) TMI 1072 - SUPREME COURT] and case CIT vs Vrindavan Farms (P) Ltd. [2015 (11) TMI 279 - DELHI HIGH COURT] and PCIT vs. Goodveiw Trading Company (2016 (12) TMI 617 - DELHI HIGH COURT]- Accordingly, grounds of revenue are dismissed. Appeal of revenue is dismissed.
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