https://www.taxtmi.com/caselaws?id=461419 ITAT Indore upheld CIT(A)'s deletion of addition u/s 68 regarding unsecured loans, finding assessee discharged onus to prove identity, capacity and genuineness of loan creditors through documentary evidence including audited statements, bank records and tax returns. Interest disallowance was also deleted as transactions were properly recorded and TDS complied. Addition u/s 69 for unexplained investment was deleted as AO relied solely on statement without inquiry or material evidence. Addition for on-money received for plot bookings was deleted as assessee produced sale deeds and banking records proving legitimate transactions. However, cash receipts addition of Rs. 2,77,350 based on seized documents was modified from s.68 to unaccounted business income since transactions weren't recorded in books. Assessment validity under s.153D was upheld as proper approval was obtained. en-us Mon, 21 Aug 2023 00:00:00 +0530 Thu, 10 Jul 2025 17:39:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461419 ITAT Indore upheld CIT(A)'s deletion of addition u/s 68 regarding unsecured loans, finding assessee discharged onus to prove identity, capacity and genuineness of loan creditors through documentary evidence including audited statements, bank records and tax returns. Interest disallowance was also deleted as transactions were properly recorded and TDS complied. Addition u/s 69 for unexplained investment was deleted as AO relied solely on statement without inquiry or material evidence. Addition for on-money received for plot bookings was deleted as assessee produced sale deeds and banking records proving legitimate transactions. However, cash receipts addition of Rs. 2,77,350 based on seized documents was modified from s.68 to unaccounted business income since transactions weren't recorded in books. Assessment validity under s.153D was upheld as proper approval was obtained. Case-Laws Income Tax Mon, 21 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461419