https://www.taxtmi.com/caselaws?id=768930 The ITAT Delhi dismissed the assessee's appeal regarding additions under Section 68. For secured loan additions, the tribunal upheld CIT(A)'s deletion finding the assessee provided adequate documentary evidence including bank confirmations and statements proving genuine secured loans against hypothecated commercial vehicles. However, regarding share capital additions, the tribunal confirmed the addition as 18 share applicant companies sent identical stereotype replies on consecutive dates through same courier services, failed to appear despite summons under Section 131, and the assessee could not prove genuineness, identity, and creditworthiness required under Section 68. en-us Fri, 10 Jan 2025 00:00:00 +0530 Mon, 14 Apr 2025 12:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768930 The ITAT Delhi dismissed the assessee's appeal regarding additions under Section 68. For secured loan additions, the tribunal upheld CIT(A)'s deletion finding the assessee provided adequate documentary evidence including bank confirmations and statements proving genuine secured loans against hypothecated commercial vehicles. However, regarding share capital additions, the tribunal confirmed the addition as 18 share applicant companies sent identical stereotype replies on consecutive dates through same courier services, failed to appear despite summons under Section 131, and the assessee could not prove genuineness, identity, and creditworthiness required under Section 68. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768930