https://www.taxtmi.com/caselaws?id=423989 The ITAT allowed the assessee's appeals, reversing the additions made by the AO and sustained by the CIT(A). The ITAT emphasized that the assessee had provided sufficient evidence to prove the genuineness of the unsecured loan and related interest expenditure. The reopening of the assessment was deemed valid, but the primary additions under section 68 and the disallowance of interest were deleted. en-us Tue, 29 Mar 2022 00:00:00 +0530 Mon, 20 Jun 2022 08:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423989 The ITAT allowed the assessee's appeals, reversing the additions made by the AO and sustained by the CIT(A). The ITAT emphasized that the assessee had provided sufficient evidence to prove the genuineness of the unsecured loan and related interest expenditure. The reopening of the assessment was deemed valid, but the primary additions under section 68 and the disallowance of interest were deleted. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423989