Addition u/s. 68 sustained as repayment of loan or interest payment not demonstrated: ITAT Ahmedabad
Case Law Details
Case Name : Nyalkaran Builders LLP Vs ITO (ITAT Ahmedabad)
Appeal Number : ITA No. 126/Ahd/2024
Date of Judgement/Order : 22/08/2024
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Ahmedabad
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Nyalkaran Builders LLP Vs ITO (ITAT Ahmedabad)
ITAT Ahmedabad held that addition towards unsecured loan where loan was repaid is unsustainable, whereas, addition where assessee failed to demonstrate repayment or interest payment to creditor sustained.
Facts- The assessee is a Limited Liability Partnership Firm (L
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