https://www.taxtmi.com/caselaws?id=775863 The ITAT Kolkata upheld the CIT(A)'s order, dismissing the Revenue's appeal. Additions under s. 68 were rejected as the loan repayment was established with documentary evidence, supported by precedents. The disallowance of interest under s. 69C on unsecured loans was deleted since the loan was held genuine. Regarding bogus purchases, only 5% of the purchase amount representing presumed excess profit was added to income, affirming the CIT(A)'s approach. No infirmity was found in the CIT(A)'s findings, resulting in dismissal of the Revenue's appeal. en-us Wed, 30 Jul 2025 00:00:00 +0530 Fri, 01 Aug 2025 08:15:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775863 The ITAT Kolkata upheld the CIT(A)'s order, dismissing the Revenue's appeal. Additions under s. 68 were rejected as the loan repayment was established with documentary evidence, supported by precedents. The disallowance of interest under s. 69C on unsecured loans was deleted since the loan was held genuine. Regarding bogus purchases, only 5% of the purchase amount representing presumed excess profit was added to income, affirming the CIT(A)'s approach. No infirmity was found in the CIT(A)'s findings, resulting in dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775863