Addition u/s 68 unjustified as sufficient evidences placed to discharge initial onus

J.S Exim Private Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that assessee has placed sufficient evidences to discharge initial onus to explain the nature and source of loans. Accordingly, addition u/s. 68 of the Income Tax Act towards unsecured loan unjustified. Facts- The assessee was engaged in the business of letting commercial property and deriving income under various heads, viz.; business income, income from house property, and income from other sources. For the Assessment Year 2013-14 in question, the assessee-company filed a return of income declaring a total income at Rs. 4,94,44,640. T...