₹2 Cr Capital Infusion via Mortgage Loan Not Taxable on Mere Suspicion: ITAT Delhi

ITO Vs R.B. Traders (ITAT Delhi) Capital Introduced via Mortgage-Backed Loan Held Genuine – Upholds Loan-Based Rs.2 Cr Capital Infusion as Genuine- No Addition on Mere Suspicion AO had noted that partner, Shri Tarun Dhawan, introduced Rs.2 crores as capital which was explained as loan taken from M/s M.M. Organic Fertilizers Pvt. Ltd. against mortgage of his mother’s property. AO observed that as per agreement, interest @12% was payable but no interest was ever paid. Further, the company had no worthwhile business activity & its creditworthiness was doubtful. On these grounds, AO he...