https://www.taxtmi.com/caselaws?id=782285 ITAT upheld CIT(A)'s deletion of additions u/s 68 on sundry creditors, holding that identity, creditworthiness and genuineness of transactions were proved through confirmations and statements, and that AO had acted on mere suspicion without issuing summons to most creditors. Similar treatment in a later year further supported the assessee. On unsecured loans, ITAT confirmed CIT(A)'s partial sustenance of addition only for three depositors (Rs. 18,00,000) where evidence was lacking, and upheld deletion of the balance. For expenses on vacating land/encroachment, ITAT accepted CIT(A)'s estimation at Rs. 2,500 per sq. yard and directed recomputation of cost of acquisition. Development expenses were also allowed, as AO's reliance on a late, non-technical inspector's report was rejected. Revenue's grounds were dismissed. en-us Wed, 30 Jul 2025 00:00:00 +0530 Tue, 25 Nov 2025 17:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782285 ITAT upheld CIT(A)'s deletion of additions u/s 68 on sundry creditors, holding that identity, creditworthiness and genuineness of transactions were proved through confirmations and statements, and that AO had acted on mere suspicion without issuing summons to most creditors. Similar treatment in a later year further supported the assessee. On unsecured loans, ITAT confirmed CIT(A)'s partial sustenance of addition only for three depositors (Rs. 18,00,000) where evidence was lacking, and upheld deletion of the balance. For expenses on vacating land/encroachment, ITAT accepted CIT(A)'s estimation at Rs. 2,500 per sq. yard and directed recomputation of cost of acquisition. Development expenses were also allowed, as AO's reliance on a late, non-technical inspector's report was rejected. Revenue's grounds were dismissed. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782285