https://www.taxtmi.com/caselaws?id=438938 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete additions made by the Assessing Officer (AO) concerning bogus loans and interest. The CIT(A) found the assessee substantiated the identity, creditworthiness, and genuineness of loan creditors with proper documentation. The AO's reliance on a retracted statement and lack of independent investigation were criticized, leading to the dismissal of the revenue's appeal. en-us Thu, 16 Mar 2023 00:00:00 +0530 Sat, 10 Jun 2023 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438938 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete additions made by the Assessing Officer (AO) concerning bogus loans and interest. The CIT(A) found the assessee substantiated the identity, creditworthiness, and genuineness of loan creditors with proper documentation. The AO's reliance on a retracted statement and lack of independent investigation were criticized, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438938