Section 68 Addition Deleted Due to Proven Identity and Source of Loans

DCIT Vs Dr. Jagat Narain Subharti Charitable Trust (ITAT Delhi) Section 68 Addition Deleted: Identity, Genuineness and Creditworthiness Established Through 133(6) Enquiry — ITAT Delhi Upholds Relief to Charitable Trust The Delhi ‘B’ Bench of the Income Tax Appellate Tribunal, Delhi Bench dismissed the Revenue’s appeals for AYs 2012-13 and 2013-14 in the case of Dr. Jagat Narain Subharti Charitable Trust, thereby upholding the deletion of additions made under section 68 in respect of unsecured loans received from M/s RAN International Pvt. Ltd. The assessments were reopened on the alleg...