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2016 (8) TMI 911 - DELHI HIGH COURT

2016 (8) TMI 911 - DELHI HIGH COURT - TMI - Addition u/s 68 - Held that:- Assessee produced documents which were examined in detail. It is only after discussing the entire material in the light of the remand report of the Assessing Officer the CIT(A) has come to a definite conclusion that the Assessee has been able to sufficiently explain, to the satisfaction of the CIT(A), of the identity, genuineness and creditworthiness of the creditors. This is in respect of both the additions sought to be m .....

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been concurred with by the ITAT in a very detailed order again discussing the material available on record. The Court has not been persuaded by the learned counsel for the Revenue to view the above concurrent findings to be suffering from any perversity requiring any substantial question of law to be framed, as urged by the Revenue. - ITA 387/2016 - Dated:- 29-7-2016 - S. Muralidhar And Najmi Waziri, JJ. For the Appellant : Mr. P. Roychaudhuri, Sr. Standing Counsel For the Respondent : Through .....

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deleted the addition of ₹ 92,95,000/- under section 68 of the IT Act made by the AO on account of unexplained share application money. (ii) Whether in the facts and circumstances of the case, the ITAT was right in law in upholding the order of CIT(A) who decided the addition of ₹ 52,48,820/- under section 68 of the Act made by the AO on account of unsecured loans. (iii) Whether in the facts and circumstances of the case, the ITAT was right in law in upholding the order of CIT(A) who .....

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