https://www.taxtmi.com/caselaws?id=400468 The Tribunal allowed the appeal, ruling in favor of the appellant regarding the addition of unsecured loans from directors for the assessment year 2012-13. The Tribunal found that the appellant had provided sufficient documentary evidence establishing the genuineness and creditworthiness of the loans, criticizing the authorities for not justifying the addition under Section 68. The Tribunal emphasized the importance of considering the evidence presented and ruled the addition as unjustified and unsustainable, ultimately deleting the addition and interest levied. en-us Fri, 06 Nov 2020 00:00:00 +0530 Sat, 07 Nov 2020 21:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400468 The Tribunal allowed the appeal, ruling in favor of the appellant regarding the addition of unsecured loans from directors for the assessment year 2012-13. The Tribunal found that the appellant had provided sufficient documentary evidence establishing the genuineness and creditworthiness of the loans, criticizing the authorities for not justifying the addition under Section 68. The Tribunal emphasized the importance of considering the evidence presented and ruled the addition as unjustified and unsustainable, ultimately deleting the addition and interest levied. Case-Laws Income Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400468