https://www.taxtmi.com/caselaws?id=399677 The Tribunal dismissed the revenue's appeal for the assessment year 2012-2013, directing the AO to delete the addition of Rs. 2,07,38,443/- made on account of alleged bogus unsecured loans. The Tribunal found that the assessee had sufficiently proven the legitimacy of the loan transactions through comprehensive documentation, shifting the onus to the revenue to provide contrary evidence. The decision was based on established legal principles and past precedents, emphasizing the lack of substantive evidence brought by the AO to challenge the documentation provided by the assessee. en-us Thu, 10 Sep 2020 00:00:00 +0530 Fri, 16 Oct 2020 13:29:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399677 The Tribunal dismissed the revenue's appeal for the assessment year 2012-2013, directing the AO to delete the addition of Rs. 2,07,38,443/- made on account of alleged bogus unsecured loans. The Tribunal found that the assessee had sufficiently proven the legitimacy of the loan transactions through comprehensive documentation, shifting the onus to the revenue to provide contrary evidence. The decision was based on established legal principles and past precedents, emphasizing the lack of substantive evidence brought by the AO to challenge the documentation provided by the assessee. Case-Laws Income Tax Thu, 10 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399677