Section 68 Addition for unsecured loan Upheld as assessee failed to discharge primary onus

Kirat Hotels Pvt. Ltd. Vs ITO (ITAT Delhi) ITAT Delhi held that addition towards unsecured loan under section 68 of the Income Tax Act sustained as assessee failed to discharge the primary onus and burden of proof of providing genuineness, creditworthiness and identity of creditors to the satisfaction of the A.O. Facts- The case of the assessee was selected for complete scrutiny through CASS on the reason that “an unsecured loans from persons who have not filed their return of income (Form 3CD)”. The assessment order came to be passed u/s 143(3) of the Act on 28/12/2016 by making an additi...