https://www.taxtmi.com/caselaws?id=356336 The Tribunal upheld the deletion of an addition made under section 69A of the Income Tax Act, 1961, amounting to &8377; 80,71,317 for the assessment year 2011-12. The Commissioner found that the unsecured loans were genuine as they were recorded in the books and transacted through regular banking channels, leading to the deletion of the addition. The Tribunal determined that since the loans were received without doubts in previous years and repayment was properly recorded, the addition under section 69A was unsustainable. The Revenue's appeal was dismissed, affirming the Commissioner's decision. en-us Fri, 23 Feb 2018 00:00:00 +0530 Thu, 01 Mar 2018 07:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356336 The Tribunal upheld the deletion of an addition made under section 69A of the Income Tax Act, 1961, amounting to &8377; 80,71,317 for the assessment year 2011-12. The Commissioner found that the unsecured loans were genuine as they were recorded in the books and transacted through regular banking channels, leading to the deletion of the addition. The Tribunal determined that since the loans were received without doubts in previous years and repayment was properly recorded, the addition under section 69A was unsustainable. The Revenue's appeal was dismissed, affirming the Commissioner's decision. Case-Laws Income Tax Fri, 23 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356336