https://www.taxtmi.com/caselaws?id=772528 ITAT Delhi ruled in favor of the assessee, deleting additions made under Section 68 read with Section 115BBE for alleged bogus unsecured loans during demonetization. The tribunal found that loan creditors' identities were established as existing income tax assessees with bank accounts, transactions were genuine through account payee cheques via banking channels, and creditors' creditworthiness was proven. The tribunal concluded no grounds existed to sustain the addition of undisclosed income, overturning the CIT(A)'s decision and allowing the assessee's appeal. en-us Wed, 04 Jun 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772528 ITAT Delhi ruled in favor of the assessee, deleting additions made under Section 68 read with Section 115BBE for alleged bogus unsecured loans during demonetization. The tribunal found that loan creditors' identities were established as existing income tax assessees with bank accounts, transactions were genuine through account payee cheques via banking channels, and creditors' creditworthiness was proven. The tribunal concluded no grounds existed to sustain the addition of undisclosed income, overturning the CIT(A)'s decision and allowing the assessee's appeal. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772528