https://www.taxtmi.com/caselaws?id=462882 The ITAT Nagpur held that addition of cash loan under section 69A was unjustified. The assessee had disclosed brokerage income from cash loans in the return filed under section 153C, which was accepted by authorities. The Revenue cannot take contradictory positions on the same transactions. The AO failed to conduct proper enquiry to verify seized documents and did not establish with credible evidence that cash loans originated from the assessee's undisclosed funds. Since the assessee's role as intermediary for cheque-based loans was accepted, similar treatment should apply to cash loans. The AO could not produce corroborative evidence to contradict the assessee's denial of using personal funds. The CIT(A)'s decision deleting the addition was upheld, with the appeal decided against the Revenue. en-us Wed, 21 Aug 2024 00:00:00 +0530 Mon, 21 Jul 2025 11:22:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462882 The ITAT Nagpur held that addition of cash loan under section 69A was unjustified. The assessee had disclosed brokerage income from cash loans in the return filed under section 153C, which was accepted by authorities. The Revenue cannot take contradictory positions on the same transactions. The AO failed to conduct proper enquiry to verify seized documents and did not establish with credible evidence that cash loans originated from the assessee's undisclosed funds. Since the assessee's role as intermediary for cheque-based loans was accepted, similar treatment should apply to cash loans. The AO could not produce corroborative evidence to contradict the assessee's denial of using personal funds. The CIT(A)'s decision deleting the addition was upheld, with the appeal decided against the Revenue. Case-Laws Income Tax Wed, 21 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462882