https://www.taxtmi.com/caselaws?id=775217 ITAT Delhi upheld CIT(A)'s deletion of additions under section 68 for unsecured loans, finding the assessee adequately proved identity, creditworthiness, and genuineness through banking channels and documentary evidence. The tribunal noted denial of cross-examination opportunity undermined the assessment's foundation. Related interest and commission disallowances were also deleted as loans were deemed genuine. Regarding reassessment, ITAT quashed the section 147 order as additions were made on issues not covered in recorded reasons for reopening. The tribunal deleted CIT(A)'s enhancement of Rs. 9.65 crores based on WhatsApp chats, treating them as "dumb documents" lacking corroborative evidence. However, ITAT confirmed disallowances of education cess under section 40(a)(ii) following SC precedent in Sesa Goa Ltd., and upheld disallowance of delayed PF/ESI contributions under section 36(1)(va) per SC judgment in Checkmate Services. Revenue's appeal was dismissed while assessee's cross-objections were allowed. en-us Mon, 30 Jun 2025 00:00:00 +0530 Tue, 22 Jul 2025 08:25:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775217 ITAT Delhi upheld CIT(A)'s deletion of additions under section 68 for unsecured loans, finding the assessee adequately proved identity, creditworthiness, and genuineness through banking channels and documentary evidence. The tribunal noted denial of cross-examination opportunity undermined the assessment's foundation. Related interest and commission disallowances were also deleted as loans were deemed genuine. Regarding reassessment, ITAT quashed the section 147 order as additions were made on issues not covered in recorded reasons for reopening. The tribunal deleted CIT(A)'s enhancement of Rs. 9.65 crores based on WhatsApp chats, treating them as "dumb documents" lacking corroborative evidence. However, ITAT confirmed disallowances of education cess under section 40(a)(ii) following SC precedent in Sesa Goa Ltd., and upheld disallowance of delayed PF/ESI contributions under section 36(1)(va) per SC judgment in Checkmate Services. Revenue's appeal was dismissed while assessee's cross-objections were allowed. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775217