https://www.taxtmi.com/caselaws?id=279221 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the revenue's appeal challenging the deletion of the addition of an unsecured loan under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided substantial evidence proving the genuineness of the loans, including bank statements, audited financial statements, and details of loan repayment through banking channels. The Commissioner's findings were supported by evidence, and no new facts or contrary judgments were presented to challenge them, leading to the dismissal of the revenue's appeal. en-us Mon, 17 Dec 2018 00:00:00 +0530 Fri, 08 Mar 2019 06:55:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279221 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the revenue's appeal challenging the deletion of the addition of an unsecured loan under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided substantial evidence proving the genuineness of the loans, including bank statements, audited financial statements, and details of loan repayment through banking channels. The Commissioner's findings were supported by evidence, and no new facts or contrary judgments were presented to challenge them, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Mon, 17 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279221