https://www.taxtmi.com/caselaws?id=770556 The ITAT Ahmedabad upheld the CIT(A)'s deletion of addition under section 69 for unexplained investment. The assessee successfully demonstrated that the transaction was repayment of a past loan, not a fresh advance, supported by bank records, interest income with TDS, and proper book disclosure. The Revenue failed to provide evidence disproving the repayment nature. The tribunal held that clarification of position backed by verifiable documentation cannot be treated as contradictory, and the CIT(A)'s findings contained no infirmity. The assessee's appeal was allowed. en-us Fri, 09 May 2025 00:00:00 +0530 Tue, 13 May 2025 09:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770556 The ITAT Ahmedabad upheld the CIT(A)'s deletion of addition under section 69 for unexplained investment. The assessee successfully demonstrated that the transaction was repayment of a past loan, not a fresh advance, supported by bank records, interest income with TDS, and proper book disclosure. The Revenue failed to provide evidence disproving the repayment nature. The tribunal held that clarification of position backed by verifiable documentation cannot be treated as contradictory, and the CIT(A)'s findings contained no infirmity. The assessee's appeal was allowed. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770556