https://www.taxtmi.com/highlights?id=84336 Monies received through regular banking channels, reflected in balance sheet. Lender furnished confirmations and director's statement recorded. No incriminating evidence found during search. Running account with lender evident from ledgers for multiple years. Source of lender's funds proved. ITAT held genuineness of transactions established, no addition u/s 68 warranted. Decided in assessee's favour. en-us Fri, 27 Dec 2024 09:00:37 +0530 Fri, 27 Dec 2024 09:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84336 Monies received through regular banking channels, reflected in balance sheet. Lender furnished confirmations and director's statement recorded. No incriminating evidence found during search. Running account with lender evident from ledgers for multiple years. Source of lender's funds proved. ITAT held genuineness of transactions established, no addition u/s 68 warranted. Decided in assessee's favour. Highlights Income Tax Fri, 27 Dec 2024 09:00:37 +0530 https://www.taxtmi.com/highlights?id=84336