Mixed Funds Presumption Saves Interest Disallowance; Loans u/s 68 Found Genuine – ITAT Mumbai

ACIT Vs Girish Shamji Chheda (ITAT Mumbai) Mixed Funds Presumption Saves Interest Disallowance; Loans u/s 68 Found Genuine – ITAT Mumbai; Consistency Prevails – ITAT Upholds CIT(A) in Deleting ₹5 Cr Additions; ₹5 Crore Additions Overturned: ITAT Confirms Mixed Funds & Verified Loan Genuineness Revenue appealed against the order of CIT(A) deleting two additions made in the case of Assessee, proprietor of M/s. Viraj Highway Inn, engaged in lending & investment activities. AO had completed assessment u/s 143(3) r.w.s. 144B at ₹5.43 crore against returned income of ₹93.62 lakh...