Section 68 Addition Deleted for Ignoring Peak Credit

Smt. Nidhi Rani Vs ITO (ITAT Delhi) Peak Credit Accepted, Source-of-Source Not Required & GP Estimation Struck Down: Delhi ITAT Deletes ₹1.57 Cr 68 Addition & Trading Additions Delhi ITAT, Delhi Bench ‘E’, in Smt. Nidhi Rani Vs ITO (ITA No.3323/Del/2023; AY 2018-19; order dated 19-12-2025), allowed the assessee’s appeal in full, deleting both the unsecured loan addition u/s 68 and the gross-profit estimation. On section 68, the Tribunal held that the assessee had discharged the onus of proving identity, genuineness & creditworthiness of the lender (M/s Tejas Handloom, propr...