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2019 (4) TMI 1662 - AT - Income TaxAddition u/s 68 - unsecured loans received from various friends and family members - HELD THAT:- Merely suspicion should not be the basis of addition. There should be some material when the assessee has proved credit by furnishing material in the form of confirmation etc. to discard such evidence. AO should ascertain the veracity of claim of the assessee by summoning the persons who have advanced unsecured loans to the assessee. We therefore set aside the orders of the authorities below and restore this issue to the file of the AO for decision afresh. The AO is hereby directed to verify the claim of the assessee by making necessary enquiries and by giving reasonable opportunity to the assessee.- Assessee’s appeal is allowed for statistical purposes.
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