https://www.taxtmi.com/caselaws?id=423424 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee, directing the deletion of additions totaling Rs. 31,75,000/- made by the Assessing Officer under Section 68 of the Income Tax Act, 1961. The ITAT held that the assessee had adequately proven the genuineness of unsecured loans received from M/s. Makhija Infrastructure Pvt. Ltd. and Shri Ramesh K. Parmar. The ITAT found that the assessee provided satisfactory evidence to establish the identity, creditworthiness, and genuineness of the transactions, leading to the removal of the additions. en-us Wed, 01 Jun 2022 00:00:00 +0530 Tue, 07 Jun 2022 08:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423424 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee, directing the deletion of additions totaling Rs. 31,75,000/- made by the Assessing Officer under Section 68 of the Income Tax Act, 1961. The ITAT held that the assessee had adequately proven the genuineness of unsecured loans received from M/s. Makhija Infrastructure Pvt. Ltd. and Shri Ramesh K. Parmar. The ITAT found that the assessee provided satisfactory evidence to establish the identity, creditworthiness, and genuineness of the transactions, leading to the removal of the additions. Case-Laws Income Tax Wed, 01 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423424