https://www.taxtmi.com/caselaws?id=414356 The tribunal upheld the Ld. CIT(A)'s decision to delete additions made by the AO under Section 68 of the Income Tax Act, finding the loans received by the assessee as genuine. The tribunal also allowed the interest payments on these loans. Additionally, the tribunal upheld the deletion of an amount on account of delayed payments of interest on service tax and TDS, considering it compensatory. The revenue's appeal was dismissed, confirming the genuineness of the transactions and lack of substantial evidence against the assessee. en-us Tue, 26 Oct 2021 00:00:00 +0530 Wed, 03 Nov 2021 09:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414356 The tribunal upheld the Ld. CIT(A)'s decision to delete additions made by the AO under Section 68 of the Income Tax Act, finding the loans received by the assessee as genuine. The tribunal also allowed the interest payments on these loans. Additionally, the tribunal upheld the deletion of an amount on account of delayed payments of interest on service tax and TDS, considering it compensatory. The revenue's appeal was dismissed, confirming the genuineness of the transactions and lack of substantial evidence against the assessee. Case-Laws Income Tax Tue, 26 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414356