This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Unsecured Loan Addition u/s 68 Deleted – Filatex Group Loans Held Genuine
Case Law Details
- Case Name
- ACIT Vs Sparsh Property Private Limited (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ACIT Vs Sparsh Property Private Limited (ITAT Delhi)
Unsecured Loan Addition u/s 68 Deleted – Filatex Group Loans Held Genuine
The ITAT Delhi dismissed the Revenue’s appeal and upheld the CIT(A)’s order deleting addition of ₹60 lakh made u/s 68 along with disallowance of interest and alleged commission. The AO had treated loans received from ANM Fincap Pvt. Ltd. and Satsal Finlease Pvt. Ltd. as accommodation entries based mainly on search statements and investigation findings in the Filatex group. The Tribunal noted that the assessee discharged the onus by filing confirmations, bank st...
Author Info
