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2023 (10) TMI 184 - AT - Income TaxUnexplained cash credit and interest thereon u/s 68 - HELD THAT:- As addition on the basis of the statement recorded by the investigation wing of the department of one Shri Sharad Dharak in some other cases of search - AO has not brought on record any material to show that these loans transactions are nothing but assessee’s own undisclosed income routing back through these loan creditors in the garb of unsecured loans - As decided in assessee own father case SHRI SANJAY SHUKLA, INDORE [2022 (4) TMI 385 - ITAT INDORE] as held that loan taken from alleged company has been treated as genuine and the additions made in the hands of other loan receivers have been deleted by this Tribunal in the case of M/s Tirupati Construction [2016 (9) TMI 436 - ITAT INDORE] - Decided in favour of assessee.
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