Assessee's Section 68 Addition Challenged; Lender's Accepted Interest Income Supports Loan's Credibility and Identity. https://www.taxtmi.com/highlights?id=69523 Addition u/s 68 - assessee was unable to produce the Director of lender company so the identity of lender is not established - When the interest income of lender stands accepted by the Department, then the loan disbursed by it to earn that income cannot be considered to be tainted, by attributing suspicion to the identity or creditworthiness of sources of lender. - AT en-us Mon, 01 May 2023 11:26:37 +0530 Mon, 01 May 2023 11:26:37 +0530 TaxTMI RSS Generator Assessee's Section 68 Addition Challenged; Lender's Accepted Interest Income Supports Loan's Credibility and Identity. https://www.taxtmi.com/highlights?id=69523 Addition u/s 68 - assessee was unable to produce the Director of lender company so the identity of lender is not established - When the interest income of lender stands accepted by the Department, then the loan disbursed by it to earn that income cannot be considered to be tainted, by attributing suspicion to the identity or creditworthiness of sources of lender. - AT Highlights Income Tax Mon, 01 May 2023 11:26:37 +0530 https://www.taxtmi.com/highlights?id=69523