Mixed Funds Presumption Saves Interest Disallowance; Loans u/s 68 Found Genuine – ITAT Mumbai

ACIT Vs Girish Shamji Chheda (ITAT Mumbai)

Mixed Funds Presumption Saves Interest Disallowance; Loans u/s 68 Found Genuine – ITAT Mumbai; Consistency Prevails – ITAT Upholds CIT(A) in Deleting ₹5 Cr Additions; ₹5 Crore Additions Overturned: ITAT Confirms Mixed Funds & Verified Loan Genuineness

Revenue appealed against the order of CIT(A) deleting two additions made in the case of Assessee, proprietor of M/s. Viraj Highway Inn, engaged in lending & investment activities. AO had completed assessment u/s 143(3) r.w.s. 144B at â

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