https://www.taxtmi.com/caselaws?id=287451 The Tribunal allowed the appeal, directing the deletion of the addition and interest under section 68 of the Income Tax Act. The decision was based on the lender's retracted statement, supported by documentary evidence, and the repayment of the loan during the year. The Tribunal emphasized the importance of verifying facts from income tax returns of lenders and the acceptance of repayment by the Assessing Officer in such cases. en-us Wed, 14 Nov 2018 00:00:00 +0530 Wed, 15 Apr 2020 10:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287451 The Tribunal allowed the appeal, directing the deletion of the addition and interest under section 68 of the Income Tax Act. The decision was based on the lender's retracted statement, supported by documentary evidence, and the repayment of the loan during the year. The Tribunal emphasized the importance of verifying facts from income tax returns of lenders and the acceptance of repayment by the Assessing Officer in such cases. Case-Laws Income Tax Wed, 14 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287451