https://www.taxtmi.com/caselaws?id=768048 ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for alleged accommodation entries. The AO added amounts claiming the assessee took accommodation entries from dummy companies controlled by accommodation providers. However, ITAT found that the assessee received unsecured loans through banking channels and repaid them with interest before assessment reopening. The tribunal held that genuine repayment of loans with interest demonstrates legitimate transactions. Mere suspicion and operator involvement cannot label all transactions as non-genuine. Each transaction must be evaluated on merit rather than suspicion alone. en-us Thu, 27 Mar 2025 00:00:00 +0530 Thu, 09 Jul 2026 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768048 ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for alleged accommodation entries. The AO added amounts claiming the assessee took accommodation entries from dummy companies controlled by accommodation providers. However, ITAT found that the assessee received unsecured loans through banking channels and repaid them with interest before assessment reopening. The tribunal held that genuine repayment of loans with interest demonstrates legitimate transactions. Mere suspicion and operator involvement cannot label all transactions as non-genuine. Each transaction must be evaluated on merit rather than suspicion alone. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768048