No Addition U/s. 68 if Assessee able to Prove identity of creditor, its creditworthiness & genuineness of transaction

ITO Vs M/s. Necleus Steel Private Limited (ITAT Delhi)

In this case, assessee received an amount of Rs.67.50 crores from M/s. Unitech Ltd., as advance against the sale of the property. The assessee filed confirmation from M/s. Unitech Ltd., along with its bank statement and acknowledgment of filing of the ITR with balan

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