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of ITAT allowed the assessee's appeal and deleted the addition made by the Assessing Officer regarding unexplained increase in unsecured loan balance. The Tribunal found that the AO erroneously considered only fresh loans of Rs. 2.31 crores while ignoring interest credit of Rs. 61,14,262, TDS deduction of Rs. 6,11,425, and loan repayment of Rs. 2,60,435. When these adjustments were properly accounted for, the apparent difference of Rs. 52,42,402 in unsecured loan balance was fully explained. The Tribunal concluded that no unexplained increase existed after considering all relevant transactions, rendering the AO's addition incorrect and unjustified.
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