https://www.taxtmi.com/caselaws?id=778032 ITAT Agra - AT held that the impugned addition under s. 68 as an accommodation entry was not sustainable for the assessment year under scrutiny. The Tribunal found the transaction was concluded and recorded in AY 2010-11 (relevant to the statement furnished to the AO) and, although payment was received in AY 2011-12, the AO could not disallow income in the year of receipt; any disallowance, if permissible, belonged to AY 2010-11. The assessee's appeal was allowed. en-us Wed, 03 Sep 2025 00:00:00 +0530 Tue, 09 Sep 2025 08:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778032 ITAT Agra - AT held that the impugned addition under s. 68 as an accommodation entry was not sustainable for the assessment year under scrutiny. The Tribunal found the transaction was concluded and recorded in AY 2010-11 (relevant to the statement furnished to the AO) and, although payment was received in AY 2011-12, the AO could not disallow income in the year of receipt; any disallowance, if permissible, belonged to AY 2010-11. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778032