https://www.taxtmi.com/caselaws?id=429048 The Tribunal allowed the appeal, directing the deletion of the entire confirmed addition under section 68 of the I.T. Act relating to unsecured loans received from associate companies. The Tribunal found that the assessee had sufficiently proven the creditworthiness and genuineness of the transactions, emphasizing the importance of thorough investigation by the Revenue before making such additions. Relying on judicial precedents and decisions from the High Court, the Tribunal concluded that the additions made by the lower authorities were unjustified due to the lack of adverse material disputing the transactions' legitimacy. en-us Fri, 14 Oct 2022 00:00:00 +0530 Mon, 17 Oct 2022 05:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429048 The Tribunal allowed the appeal, directing the deletion of the entire confirmed addition under section 68 of the I.T. Act relating to unsecured loans received from associate companies. The Tribunal found that the assessee had sufficiently proven the creditworthiness and genuineness of the transactions, emphasizing the importance of thorough investigation by the Revenue before making such additions. Relying on judicial precedents and decisions from the High Court, the Tribunal concluded that the additions made by the lower authorities were unjustified due to the lack of adverse material disputing the transactions' legitimacy. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429048