Assessing Officer's Additions on Unexplained Loans Contradict Income Tax Act Section 68 Principles; Assessee Met Burden of Proof.

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....Unexplained Unsecured Loans - Additions made by the ld.AO in the case of assessee are against the principles laid down u/s.68 - no addition could have been made by the ld.AO as in the present case the assessee has already discharged his initial onus. Therefore, the unsecured loan received by the assessee cannot be termed as unexplained. - AT....