Section 68 Addition Deleted; Loans from Alleged Entry Providers Accepted on Consistency

Ashok Airen Vs DCIT (ITAT Indore) The ITAT, Indore Bench held that loans cannot be treated as unexplained u/s 68 merely on the basis of third-party statements branding lenders as “entry providers”, when the assessee has discharged the primary onus of proving identity, creditworthiness & genuineness. In this case, the AO relied on Investigation Wing inputs alleging that the lender companies were controlled by an accommodation entry operator and made ₹50 lakh addition u/s 68. The assessee, however, furnished complete documentary evidence—PAN, confirmations, bank statements & fina...