Addition for Unsecured Loans Deleted as identity, creditworthiness & genuineness proved

ACIT Vs Paswara Papers Ltd. (ITAT Delhi) Identity, Creditworthiness & Genuineness Proved – Unsecured Loans Backed by Evidence, Addition Falls Flat Delhi ITAT dismissed Revenue’s appeal against CIT(A)’s order deleting addition of ₹3.51 crore made u/s 68 towards unsecured loans & share capital received by Paswara Papers Ltd. Assessee filed return of income at ₹40,02,840/-. Case was selected for scrutiny & AO completed assessment u/s 143(3) on 31.12.2018 by making addition of ₹3,51,65,500/- in respect of unsecured loans & share capital from: Envee Infrastructure Pv...