https://www.taxtmi.com/highlights?id=57732 Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the financial statements and income tax returns from the loan creditors to prove their creditworthiness. But there is no dispute that the assessee had indeed furnished the PAN of all the loan creditors. - AO / ld CITA could have cross verified from the PAN of the creditors with the assessing officers of the creditors and ascertain the creditworthiness. - Additions deleted - AT en-us Mon, 26 Apr 2021 17:09:22 +0530 Mon, 26 Apr 2021 17:09:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57732 Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the financial statements and income tax returns from the loan creditors to prove their creditworthiness. But there is no dispute that the assessee had indeed furnished the PAN of all the loan creditors. - AO / ld CITA could have cross verified from the PAN of the creditors with the assessing officers of the creditors and ascertain the creditworthiness. - Additions deleted - AT Highlights Income Tax Mon, 26 Apr 2021 17:09:22 +0530 https://www.taxtmi.com/highlights?id=57732