2026 (5) TMI 680

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....i Nath-Sr. AR ORDER PER SAKTIJIT DEY, VICE PRESIDENT: This is an appeal by the assessee against order dated 13.11.2025 passed by National Faceless Appeal Centre ('NFAC' for short), Delhi for the assessment year (A.Y. for short) 2021-22. 2. The solitary grievance of the assessee in the present appeal is addition of Rs. 3,80,560/- u/s. 68 of the Income Tax Act, 1961 ('the Act' for short)....

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....t was introduced out of loan received from Ms. Hina Rakesh Mehta. The A.O., however, was not convinced with the submissions of the assessee. Not only he disbelieved assessee's explanation regarding the source of introduction of cash to capital account, but he also rejected his explanation regarding the source of unsecured loan of Rs. 10 lacs. Thus, he made an addition of Rs. 3,80,560/- u/s. 68 of ....

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....' for short) relied upon the observations of the departmental authorities. 8. We have considered rival submissions and perused the materials available on record. As discussed in the foregoing paragraphs, the A.O. rejected assessee's explanation with regard not only to the unsecured loan received from Ms. Hina Rakesh Mehta, but he also disbelieved assessee's claim regarding the introduction of c....