https://www.taxtmi.com/caselaws?id=287273 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition made on account of a loan taken from M/s. Golden Agro Products Pvt. Ltd., as the creditor's identity was established, transaction genuineness confirmed, and creditworthiness supported. The Tribunal also upheld the deletion of disallowance of interest expenses related to the loan, rejecting the Revenue's claim of the company being a shell entity. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection, affirming the CIT(A)'s findings on all issues without new evidence to justify a different outcome. en-us Thu, 20 Jun 2019 00:00:00 +0530 Tue, 07 Apr 2020 09:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287273 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition made on account of a loan taken from M/s. Golden Agro Products Pvt. Ltd., as the creditor's identity was established, transaction genuineness confirmed, and creditworthiness supported. The Tribunal also upheld the deletion of disallowance of interest expenses related to the loan, rejecting the Revenue's claim of the company being a shell entity. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection, affirming the CIT(A)'s findings on all issues without new evidence to justify a different outcome. Case-Laws Income Tax Thu, 20 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287273