https://www.taxtmi.com/caselaws?id=456490 The HC dismissed the revenue's appeal under Section 260A of the Income Tax Act, 1961, affirming the ITAT's order for Assessment Years 2012-13 and 2013-14. The Court upheld the deletion of alleged unsecured loans, disallowed additions under Section 14A read with Rule 8D, and confirmed the deletion of additions under Section 68, emphasizing the assessee's proof of creditworthiness, genuineness, and tax compliance. The onus was on the Assessing Officer to disprove the documentation, which was not accomplished. The appeal was dismissed, with no substantial questions of law arising from the facts presented. en-us Wed, 09 Feb 2022 00:00:00 +0530 Mon, 29 Jul 2024 20:13:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456490 The HC dismissed the revenue's appeal under Section 260A of the Income Tax Act, 1961, affirming the ITAT's order for Assessment Years 2012-13 and 2013-14. The Court upheld the deletion of alleged unsecured loans, disallowed additions under Section 14A read with Rule 8D, and confirmed the deletion of additions under Section 68, emphasizing the assessee's proof of creditworthiness, genuineness, and tax compliance. The onus was on the Assessing Officer to disprove the documentation, which was not accomplished. The appeal was dismissed, with no substantial questions of law arising from the facts presented. Case-Laws Income Tax Wed, 09 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456490