https://www.taxtmi.com/caselaws?id=196228 The Tribunal dismissed the Revenue's appeal challenging the addition of an unsecured loan under Section 68 of the Income Tax Act. The Tribunal found that the loan was genuine and part of a joint venture agreement, deleting a portion of the addition. Despite the lack of a confirmation letter, the Tribunal emphasized the transaction's legitimacy and business purpose, ruling that Section 68 conditions were not met. Costs were not awarded in the case. en-us Fri, 27 Apr 2012 00:00:00 +0530 Wed, 22 Nov 2017 17:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196228 The Tribunal dismissed the Revenue's appeal challenging the addition of an unsecured loan under Section 68 of the Income Tax Act. The Tribunal found that the loan was genuine and part of a joint venture agreement, deleting a portion of the addition. Despite the lack of a confirmation letter, the Tribunal emphasized the transaction's legitimacy and business purpose, ruling that Section 68 conditions were not met. Costs were not awarded in the case. Case-Laws Income Tax Fri, 27 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196228