https://www.taxtmi.com/caselaws?id=783052 The ITAT Delhi dismissed the Revenue's appeal challenging deletion of addition under s.68 r.w.s. 115BBE in respect of an alleged bogus unsecured loan. It upheld the CIT(A)'s finding, based on independent inquiries, that the loan from a corporate lender had sufficient creditworthiness and that the transaction was genuine, thereby satisfying the conditions of s.68. As the Revenue could not rebut these factual findings or produce contrary material, the addition was rightly deleted. Consequently, disallowance of interest on the said loan was also set aside and allowed as business expenditure. en-us Thu, 27 Nov 2025 00:00:00 +0530 Tue, 09 Dec 2025 08:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783052 The ITAT Delhi dismissed the Revenue's appeal challenging deletion of addition under s.68 r.w.s. 115BBE in respect of an alleged bogus unsecured loan. It upheld the CIT(A)'s finding, based on independent inquiries, that the loan from a corporate lender had sufficient creditworthiness and that the transaction was genuine, thereby satisfying the conditions of s.68. As the Revenue could not rebut these factual findings or produce contrary material, the addition was rightly deleted. Consequently, disallowance of interest on the said loan was also set aside and allowed as business expenditure. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783052