Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (11) TMI 1920 - ITAT KOLKATAAddition of bogus loans as unexplained cash credit - Addition u/s 68 - CIT-A deleted the addition - HELD THAT:- CIT-A held since the three cardinal criteria of identity, creditworthiness of the loan creditor and the genuineness of the transactions are established with cogent evidentiary documentary materials, do not find any merit in the action of the AO in making the impugned addition / disallowance for which the same are directed to be deleted. In our view the ld. CIT(A) has given cogent reasons as to why he could not sustain the additions. The ld. DR could not controvert these findings. Appeal of the revenue is dismissed.
|