Addition u/s 68 - unexplained cash credits - Addition on account ...

Commissioner of Income Tax (Appeals) Deletes Unexplained Cash Credits Addition u/s 68 for Assessee's Loan Transactions.

October 25, 2021

Case Laws Income Tax AT

Addition u/s 68 - unexplained cash credits - Addition on account of loans received - it is clear that the onus required to be discharged with respect to identity, genuineness and creditworthiness was duly discharged by the assessee and moreso the transaction is part of the regular overdraft account maintained by the assessee with the society. - CIT(A) rightly deleted the additions - AT

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Addition u/s 68 - unexplained cash credits - Addition on account ...

Commissioner of Income Tax (Appeals) Deletes Unexplained Cash Credits Addition u/s 68 for Assessee's Loan Transactions.

October 25, 2021

Case Laws Income Tax AT

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