ITAT Deletes Section 68 Loan Addition; Mere Link to Entry Operator Insufficient

Suketu Rajnikant Jhaveri Vs ACIT (ITAT Pune) Mere Link with Alleged Entry Operator Not Enough – ITAT Deletes Section 68 Addition of Loan After Assessee Proves Identity, Creditworthiness and Genuineness ITAT Deletes Section 68 Loan Addition; Mere Link to Entry Operator Insufficient The Pune ITAT deleted an addition of ₹4.50 lakh under section 68, holding that once the assessee furnishes documentary evidence establishing the identity of the lender, genuineness of the transaction and creditworthiness of the creditor, the burden shifts to the Revenue to disprove the claim. Mere association...