https://www.taxtmi.com/caselaws?id=782129 ITAT Kolkata-AT upheld the CIT(A)'s order deleting addition under s.69A arising from alleged unrecorded moneylending through "rukas" via certain finance brokers. The Tribunal found that the AO relied solely on an investigation wing dissemination report describing the assessee only as a "potential/probable" lender, with no rukas, documents, or statements naming the assessee as a lender and no corroborative evidence. It held that assessment was reopened on borrowed satisfaction without independent enquiry or application of mind, and that denial of requested cross-examination caused prejudice. On these grounds, the notice under s.148A(b), reopening, and consequent addition were held invalid, and the assessee's appeal was allowed. en-us Fri, 17 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 10:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782129 ITAT Kolkata-AT upheld the CIT(A)'s order deleting addition under s.69A arising from alleged unrecorded moneylending through "rukas" via certain finance brokers. The Tribunal found that the AO relied solely on an investigation wing dissemination report describing the assessee only as a "potential/probable" lender, with no rukas, documents, or statements naming the assessee as a lender and no corroborative evidence. It held that assessment was reopened on borrowed satisfaction without independent enquiry or application of mind, and that denial of requested cross-examination caused prejudice. On these grounds, the notice under s.148A(b), reopening, and consequent addition were held invalid, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 17 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782129