Section 68 Addition Fails for Ignoring Daughter’s Loan Evidence: ITAT Delhi Orders Fresh Examination

Balkar Singh Vs ITO (ITAT Delhi) 68 Can’t Be Sustained by Ignoring Filed Evidence: Daughter’s Loan Needs Proper Examination – ITAT Delhi Orders Fresh Look Assessee, proprietor of M/s Baba Hanuman Mineral, challenged addition of ₹1.12 crore u/s 68 in respect of unsecured loan received from his daughter, Divyangana Singh. AO treated the loan as unexplained for alleged failure to prove identity, creditworthiness & genuineness. NFAC partly sustained the addition, recording that no evidence was furnished—despite Assessee’s claim to the contrary. ITAT Delhi found merit in Assesse...