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Income Tax

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

Case Law Details

Case Name
DCIT Vs Dr. Jagat Narain Subharti Charitable Trust (ITAT Delhi)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2012-13
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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...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,510

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