https://www.taxtmi.com/caselaws?id=424886 HC upheld ITAT's orders deleting additions under s.68 in assessments framed under s.153A, finding the unsecured loan held not shown to be a bogus accommodation entry. The court noted statements relied on were recorded after the search and did not incriminate the taxpayer or mention receipt of cash; opportunity to cross-examine witnesses was denied. As completed assessments can only be reopened on incriminating material unearthed during search, the factual findings of ITAT were sustained and the appeal resolved in favour of the assessee. en-us Tue, 05 Jul 2022 00:00:00 +0530 Mon, 03 Nov 2025 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424886 HC upheld ITAT's orders deleting additions under s.68 in assessments framed under s.153A, finding the unsecured loan held not shown to be a bogus accommodation entry. The court noted statements relied on were recorded after the search and did not incriminate the taxpayer or mention receipt of cash; opportunity to cross-examine witnesses was denied. As completed assessments can only be reopened on incriminating material unearthed during search, the factual findings of ITAT were sustained and the appeal resolved in favour of the assessee. Case-Laws Income Tax Tue, 05 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424886