₹6 crore Section 68 Addition Deleted as Lenders Confirm Loans in Remand Proceedings

DCIT Vs Deserve Exim Pvt. Ltd (ITAT Mumbai) The appeal was filed by the Department against the order dated 30.07.2025 passed by the Commissioner of Income Tax (Appeals), Mumbai, for Assessment Year 2012–13. The primary issue concerned deletion of an addition of ₹6,00,00,000 made under Section 68 of the Income Tax Act, 1961, along with disallowance of interest of ₹17,37,000 on loans availed by the assessee. The assessee, a resident corporate entity engaged in real estate development including slum development projects, filed its original and revised returns declaring income of ₹15.33 cr...