https://www.taxtmi.com/caselaws?id=779607 ITAT MUMBAI-AT upheld deletion of an addition u/s 68, finding the assessee had established identity and creditworthiness of creditors with relevant documents, routed unsecured loans and repayments (with interest and TDS) through banking channels, and shown genuineness of transactions. The tribunal relied on precedents, noting acceptance by the AO of trading debit entries, substantial repayment during the year, continuity of creditor balances and regular interest payments, and therefore sustained CIT(A)'s deletion of the addition. Appeal has been filed by the Revenue. en-us Wed, 22 Jan 2025 00:00:00 +0530 Mon, 06 Oct 2025 18:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779607 ITAT MUMBAI-AT upheld deletion of an addition u/s 68, finding the assessee had established identity and creditworthiness of creditors with relevant documents, routed unsecured loans and repayments (with interest and TDS) through banking channels, and shown genuineness of transactions. The tribunal relied on precedents, noting acceptance by the AO of trading debit entries, substantial repayment during the year, continuity of creditor balances and regular interest payments, and therefore sustained CIT(A)'s deletion of the addition. Appeal has been filed by the Revenue. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779607