https://www.taxtmi.com/caselaws?id=778118 ITAT AHMEDABAD held that additions under s.68 were deleted where unsecured loans received by the assessee were paid and repaid by banking channels during the year, and the revenue failed to prove the amounts were accommodation entries. Because repayments were made through banking channels and the loans were returned to the lender within the same year, the tribunal found no basis for the addition and decided the appeal in favour of the assessee. en-us Thu, 16 Jan 2025 00:00:00 +0530 Thu, 11 Sep 2025 08:28:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778118 ITAT AHMEDABAD held that additions under s.68 were deleted where unsecured loans received by the assessee were paid and repaid by banking channels during the year, and the revenue failed to prove the amounts were accommodation entries. Because repayments were made through banking channels and the loans were returned to the lender within the same year, the tribunal found no basis for the addition and decided the appeal in favour of the assessee. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778118