https://www.taxtmi.com/caselaws?id=437220 The Tribunal ruled in favor of the assessee, finding that they had adequately proven the genuineness of the unsecured loan under Section 68 of the Income Tax Act. Despite the non-production of the lender's Director, the Tribunal accepted the documentary evidence provided by the assessee, including the lender's registration as an NBFC, ITR acknowledgment, and bank statements. The addition of Rs. 1,75,00,000 was deleted, and the appeal was allowed on 26th April 2023. en-us Wed, 26 Apr 2023 00:00:00 +0530 Mon, 01 May 2023 09:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437220 The Tribunal ruled in favor of the assessee, finding that they had adequately proven the genuineness of the unsecured loan under Section 68 of the Income Tax Act. Despite the non-production of the lender's Director, the Tribunal accepted the documentary evidence provided by the assessee, including the lender's registration as an NBFC, ITR acknowledgment, and bank statements. The addition of Rs. 1,75,00,000 was deleted, and the appeal was allowed on 26th April 2023. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437220