Repayment of Accepted Loans Cannot Be Treated as Unexplained Income

Gehna Impex Pvt. Ltd Vs JCIT (OSD) (ITAT Delhi) The appeal before the Income Tax Appellate Tribunal, Delhi Bench, arose from an order dated 28 May 2025 passed under section 250 of the Income-tax Act, 1961. The Assessing Officer had alleged that during FY 2015–16 the assessee received ₹1.92 crore from alleged bogus entry providers and, on that basis, made additions of ₹1.92 crore under section 69A, ₹5.77 lakh under section 69C by disallowing interest on the loans, and ₹2.66 lakh as alleged commission. On appeal, the Commissioner (Appeals) granted substantial relief but sustained an ad...