https://www.taxtmi.com/caselaws?id=250614 The High Court upheld the Tribunal's decision to delete additions made by the Assessing Officer under Section 68 of the Income Tax Act, 1961, regarding unsecured loans. The Court found that the assessee had adequately established the creditworthiness and genuineness of the transactions through documentation, including the lender's balance sheet and confirmatory certificates. The Court agreed that there was no evidence of fund rerouting by the assessee and dismissed the appeal, emphasizing that no substantial question of law arose from the case. en-us Mon, 11 Aug 2014 00:00:00 +0530 Wed, 20 Aug 2014 08:24:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250614 The High Court upheld the Tribunal's decision to delete additions made by the Assessing Officer under Section 68 of the Income Tax Act, 1961, regarding unsecured loans. The Court found that the assessee had adequately established the creditworthiness and genuineness of the transactions through documentation, including the lender's balance sheet and confirmatory certificates. The Court agreed that there was no evidence of fund rerouting by the assessee and dismissed the appeal, emphasizing that no substantial question of law arose from the case. Case-Laws Income Tax Mon, 11 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250614