Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT

Bajaj International Realty Pvt. Ltd. Vs CIT (ITAT Mumbai) Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT Assessee received loan of ₹20.52 lakh from Aneri Fincap Ltd.. AO treated it as unexplained u/s 69A based on investigation linking lender to accommodation entries. CIT(A) upheld addition along with commission u/s 69C & interest disallowance u/s 37. ITAT held: Loan was recorded in books → proper section is 68 (not 69A) However, wrong section does not invalidate addition if substance is clear Entire enquiry revolved around identity, creditworthi...