Karnataka HC directs consideration of Lenders Identity & Creditworthiness evidence 

Kiran Kumar Vs ITO (Karnataka High Court) In the case Kiran Kumar Vs ITO, the Karnataka High Court set aside an assessment order for the financial year 2015-16 due to procedural shortcomings. The petitioner challenged the Income Tax Officer’s (ITO) decision, alleging that despite providing detailed replies and supporting documents to notices, the ITO dismissed these submissions without proper consideration. The court observed that the ITO failed to evaluate the petitioner’s evidence proving the identity and creditworthiness of individuals from whom cash was borrowed. The impugned o...