Case Law Details
Case Name : ACIT Vs Vrinda Farms Private Limited (ITAT Delhi)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Delhi
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ACIT Vs Vrinda Farms Private Limited (ITAT Delhi)
ITAT Delhi upholds deletion of ₹1.83 crore addition on alleged bogus loans – rejects Revenue’s reliance on WhatsApp chats & search statements
Delhi Tribunal dismissed Revenue’s appeal & upheld CIT(A)’s order deleting additions u/s 68 of ₹1.83 crore and related disallowances of ₹7.74 lakh (interest) & ₹2.23 lakh (commission).
AO had treated unsecured loans from five NBFC-type entities (including R.N. Khemka Enterprises Pvt Ltd, Savita Holdings Pvt Ltd, Fidus Finance Pvt Ltd)
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