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2022 (10) TMI 1185 - ITAT DELHIAddition u/s 68 - bogus/ ungenuine loans received - CIT(A) held that the bank statements of the loan parties were not furnished by the appellant and at the same time held that, on analysis of the bank accounts credit in the lenders account for more than the amount received by the Assessee - HELD THAT:- The total credit in the lenders account for more than the amount received by the Assessee cannot be a reason to construe the loan as bogus/ ungenuine. Having gone through the entire evidences submitted by the Assessee as mentioned above at the beginning of this para, in the absence of any contra findings brought by the Revenue, we hold that no addition on account of the loans received by the Assessee is called for. Decided in favour of assessee.
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