Delhi HC deletes addition for unsecured Loan which was duly substantiated

PCIT Vs Avdesh Mishra (Delhi High Court) Introduction: In the case of “PCIT Vs Avdesh Mishra,” pertaining to Assessment Year 2016-17, the Delhi High Court delivered a significant verdict. The essence of this case revolves around the Assessing Officer’s addition for an unsecured loan obtained by the respondent/assessee from Dayal Trust. This article provides an in-depth analysis of the court’s decision and the circumstances leading to the deletion of the addition. AO’s Addition for Unsecured Loan: The Assessing Officer (AO) had, through an assessment order dated 2...