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Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
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• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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Unexplained Cash Credit Addition u/s 68 Deleted Due to Creditor Verification Issues; PAN Provided by Assessee.

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....Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the financial statements and income tax returns from the loan creditors to prove their creditworthiness. But there is no dispute that the assessee had indeed furnished the PAN of all the loan creditors. - AO / ld CITA could have cross verified from the PAN of the creditors with the assessing officers of the creditors and ascertain the creditworthiness. - Additions deleted - AT....

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Unexplained Cash Credit Addition u/s 68 Deleted Due to Creditor Verification Issues; PAN Provided by Assessee.