ITAT Deletes ₹1.86 Cr Addition: Section 69A Not Applicable to Recorded Unsecured Loans

Falguni Nevatia Vs ITO (ITAT Kolkata) Section 69A Not Applicable to Duly Recorded Unsecured Loans Supported by Confirmations- ITAT Kolkata Deletes ₹1.86 Cr Addition — Assessee filed appeal against the order of   CIT(A), NFAC, upholding the addition of ₹1.86 crore made by  AO as unexplained money u/s 69A in respect of unsecured loans received from 14 private limited companies. Assessee had furnished complete details before the AO, including PAN, addresses, ITR acknowledgments, audited financials, confirmations, &  bank statements of all lenders.  AO had also issued notices u/s 13...