https://www.taxtmi.com/caselaws?id=413954 The Tribunal upheld the CIT(A)'s decision to dismiss the revenue's appeal, confirming the deletion of the addition of Rs. 8,48,00,000/- under Section 68 of the Income Tax Act, 1961, and the disallowance of interest expenses amounting to Rs. 12,59,870/-. The Tribunal found that the genuineness and creditworthiness of the loan transactions were established through detailed evidence and statements provided by the loan parties' directors and representatives. The judgment on 13/10/2021 affirmed these findings, concluding in favor of the assessee. en-us Wed, 13 Oct 2021 00:00:00 +0530 Mon, 25 Oct 2021 09:18:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413954 The Tribunal upheld the CIT(A)'s decision to dismiss the revenue's appeal, confirming the deletion of the addition of Rs. 8,48,00,000/- under Section 68 of the Income Tax Act, 1961, and the disallowance of interest expenses amounting to Rs. 12,59,870/-. The Tribunal found that the genuineness and creditworthiness of the loan transactions were established through detailed evidence and statements provided by the loan parties' directors and representatives. The judgment on 13/10/2021 affirmed these findings, concluding in favor of the assessee. Case-Laws Income Tax Wed, 13 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413954