https://www.taxtmi.com/caselaws?id=292159 The Tribunal allowed the appeal, setting aside the orders of the AO and CIT(A). The addition of Rs. 3,48,50,000/- under Section 68 for unsecured loans and the disallowance of Rs. 37,23,402/- out of the interest account were both deleted, favoring the assessee. The judgment emphasized that the assessee had sufficiently discharged its burden of proof regarding the identity, creditworthiness, and genuineness of the loan creditors and transactions. en-us Fri, 10 Aug 2018 00:00:00 +0530 Tue, 08 Dec 2020 19:07:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292159 The Tribunal allowed the appeal, setting aside the orders of the AO and CIT(A). The addition of Rs. 3,48,50,000/- under Section 68 for unsecured loans and the disallowance of Rs. 37,23,402/- out of the interest account were both deleted, favoring the assessee. The judgment emphasized that the assessee had sufficiently discharged its burden of proof regarding the identity, creditworthiness, and genuineness of the loan creditors and transactions. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292159