https://www.taxtmi.com/caselaws?id=781095 ITAT upheld CIT(A)'s deletion of additions under s.68 in favour of the assessee, finding the assessee had discharged its onus by producing ledger entries, lender confirmations, bank statements, PAN and balance details; AO's additions based on non-appearance of some creditors, low reported income of lenders or returned notices were held unsustainable. Addition under s.56(2)(x)(b)(B) largely deleted except Rs.3.00 lakh, ITAT agreeing that the enabling statutory provision was not applicable to the assessment year in question. Decision of CIT(A) affirmed. en-us Thu, 30 Oct 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781095 ITAT upheld CIT(A)'s deletion of additions under s.68 in favour of the assessee, finding the assessee had discharged its onus by producing ledger entries, lender confirmations, bank statements, PAN and balance details; AO's additions based on non-appearance of some creditors, low reported income of lenders or returned notices were held unsustainable. Addition under s.56(2)(x)(b)(B) largely deleted except Rs.3.00 lakh, ITAT agreeing that the enabling statutory provision was not applicable to the assessment year in question. Decision of CIT(A) affirmed. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781095