https://www.taxtmi.com/caselaws?id=463416 ITAT JAIPUR - AT allowed the appeal, holding the assessing officer's addition under section 68 unsustainable. The tribunal found the lender company's identity and existence established through filed financials, ITRs, MCA filings and bank statements; the AO's "shell company" finding was rejected. Creditworthiness was affirmed given substantial reserves versus the advance, the loan entry in the lender's books, and repayments completed by 31.03.2020. The transaction was effected through banking channels and consistent treatment in related group assessments supported genuineness, so the addition was deleted. en-us Mon, 17 Apr 2023 00:00:00 +0530 Mon, 01 Sep 2025 11:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463416 ITAT JAIPUR - AT allowed the appeal, holding the assessing officer's addition under section 68 unsustainable. The tribunal found the lender company's identity and existence established through filed financials, ITRs, MCA filings and bank statements; the AO's "shell company" finding was rejected. Creditworthiness was affirmed given substantial reserves versus the advance, the loan entry in the lender's books, and repayments completed by 31.03.2020. The transaction was effected through banking channels and consistent treatment in related group assessments supported genuineness, so the addition was deleted. Case-Laws Income Tax Mon, 17 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463416