https://www.taxtmi.com/caselaws?id=752903 ITAT Delhi upheld CIT(A)'s decision deleting additions under section 68 regarding unsecured loans, finding AO made additions on surmises and wrong facts while ignoring assessee's complete documentation proving creditor's identity and genuineness. The tribunal also upheld deletion of ad-hoc expense disallowances, noting assessee provided adequate evidence including material purchase records, VAT payments, and ledgers. Additionally, section 80IA deduction was properly allowed by CIT(A) following established precedents from Bombay HC and ITAT Kolkata. Revenue's appeal dismissed on all grounds. en-us Fri, 17 May 2024 00:00:00 +0530 Mon, 20 May 2024 19:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752903 ITAT Delhi upheld CIT(A)'s decision deleting additions under section 68 regarding unsecured loans, finding AO made additions on surmises and wrong facts while ignoring assessee's complete documentation proving creditor's identity and genuineness. The tribunal also upheld deletion of ad-hoc expense disallowances, noting assessee provided adequate evidence including material purchase records, VAT payments, and ledgers. Additionally, section 80IA deduction was properly allowed by CIT(A) following established precedents from Bombay HC and ITAT Kolkata. Revenue's appeal dismissed on all grounds. Case-Laws Income Tax Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752903