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Section 68 Addition Deleted as PAN, ITR and Confirmations Proved Loan Creditworthiness
Case Law Details
- Case Name
- DCIT Vs Techno Industries (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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DCIT Vs Techno Industries (ITAT Ahmedabad)
The Revenue filed an appeal against the order dated 22.01.2025 passed by the Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre, for Assessment Year 2017-18. The assessee, a firm engaged in manufacturing hoists and cranes, had filed its return declaring total income of Rs. 64,27,990/-. The assessment under Section 143(3) determined total income at Rs. 1,93,22,803/- after making additions including unsecured loans under Section 68 (Rs. 1,03,00,000), disallowance of interest (Rs. 1,66,037), and disallowance of employees’ PF contribu...
