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2019 (6) TMI 1606 - ITAT MUMBAIUnexplained Cash Credit u/s. 68 - addition was made on account of failure of assessee in substantiating the creditworthiness in respect of the loans shown from M/s. Basant Marketing Pvt. Ltd. In the balance sheet - HELD THAT:- We find that the identity, credit worthiness and genuineness of the BMPL is not in dispute. Sufficient evidence has been given in these cases to prove the identity, genuineness and creditworthiness of the M/s Basant Marketing Pvt.Ltd. The CIT(A) has specifically pointed out this fact that no evidence is on record to which identity, creditworthiness and genuineness of the claim of the loan can be doubted. Taking into account was all these facts and circumstances, we are of the view that CIT(A) has decided the matter of the controversy judiciously in correctly which is not liable to be interfere with at this appellate stage. Accordingly, these issues are decided in favour of the assessee against the revenue.
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