https://www.taxtmi.com/caselaws?id=279937 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 44,13,984/- made by the AO on account of unsecured loans and interest. The Tribunal found that the assessee had provided sufficient evidence to prove the legitimacy of the loans, including loan confirmation letters, PAN details, income tax returns, bank statements, and TDS records. The Tribunal dismissed the Revenue's appeal, stating that the AO's reliance on the retracted statement of Shri Bhanwarlal Jain was unjustified, and the CIT(A) rightly deleted the addition. en-us Fri, 18 May 2018 00:00:00 +0530 Thu, 11 Apr 2019 20:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279937 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 44,13,984/- made by the AO on account of unsecured loans and interest. The Tribunal found that the assessee had provided sufficient evidence to prove the legitimacy of the loans, including loan confirmation letters, PAN details, income tax returns, bank statements, and TDS records. The Tribunal dismissed the Revenue's appeal, stating that the AO's reliance on the retracted statement of Shri Bhanwarlal Jain was unjustified, and the CIT(A) rightly deleted the addition. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279937