Interest From Debtors Not Unexplained Loans Under Section 69B: ITAT Pune

DCIT Vs Pawan Bhageria (ITAT Pune)

Interest Income from Debtors Cannot Be Treated as Unexplained Loans: ITAT Pune Upholds Deletion of Section 69B Addition

The Pune Bench of the ITAT dismissed the Revenue’s appeal for AY 2018-19 and upheld the order of the CIT(A) deleting an addition of ₹2.67 crore made u/s 69B on account of alleged unexplained loans and advances.

The assessee, engaged in wholesale trading of yarn and also acting as a commission/del cred

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