ITAT Deletes Section 68 Addition as Assessee Proved Identity, Creditworthiness & Source of Source

Mahendra Enterprise Firm Vs ACIT (ITAT Mumbai) ITAT Deletes Section 68 Addition Because Assessee Repaid Loan With Interest and Deducted TDS; Section 68 Addition Deleted Because Assessee Proved Identity, Creditworthiness and Genuineness: ITAT; ITAT Holds Addition Cannot Survive Because Revenue Relied Only on Suspicion Despite Documentary Evidence; Unsecured Loan Addition Deleted Because Assessee Also Explained Source of Source, Rules ITAT; ITAT Deletes Cash Credit Addition Because Loan Confirmation and Repayment Established Genuineness; Section 68 Addition Unsustainable Because Interest Payment...