https://www.taxtmi.com/caselaws?id=218844 The Allahabad HC dismissed the Department's appeal against the ITAT's decision to delete unexplained loans and interest additions. The Court held that the Assessee met the burden of proof despite the absence of the loan-providing companies during assessment. Compliance with Section 68 regarding the agent's appearance was deemed satisfactory. The Court emphasized the case's factual merits over legal questions, resulting in the appeal's dismissal. en-us Tue, 20 Nov 2012 00:00:00 +0530 Mon, 26 Nov 2012 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218844 The Allahabad HC dismissed the Department's appeal against the ITAT's decision to delete unexplained loans and interest additions. The Court held that the Assessee met the burden of proof despite the absence of the loan-providing companies during assessment. Compliance with Section 68 regarding the agent's appearance was deemed satisfactory. The Court emphasized the case's factual merits over legal questions, resulting in the appeal's dismissal. Case-Laws Income Tax Tue, 20 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218844