https://www.taxtmi.com/highlights?id=67757 Addition u/s. 68 - on the amounts received as loan, assessee had paid interest and had also deducted TDS on the interest paid. The factum of lending the money through banking channels is not doubted by the Revenue. Further the identity and capacity of the lender is proved by the fact that the assessee has placed documents to show that lender is an Income Tax payer, is assessed to tax and for the year under consideration, the lender has disclosed gross total income which is more than the amount advanced. - Additions deleted - AT en-us Tue, 17 Jan 2023 12:27:39 +0530 Tue, 17 Jan 2023 12:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67757 Addition u/s. 68 - on the amounts received as loan, assessee had paid interest and had also deducted TDS on the interest paid. The factum of lending the money through banking channels is not doubted by the Revenue. Further the identity and capacity of the lender is proved by the fact that the assessee has placed documents to show that lender is an Income Tax payer, is assessed to tax and for the year under consideration, the lender has disclosed gross total income which is more than the amount advanced. - Additions deleted - AT Highlights Income Tax Tue, 17 Jan 2023 12:27:39 +0530 https://www.taxtmi.com/highlights?id=67757