Sec 68 Addition Set Aside – Documentary Evidence Accepted; Matter Remanded for Loan Repayment Verification

Rachna Kirti Doshi Vs ITO (ITAT Mumbai) Sec 68 Addition Set Aside – Documentary Evidence Accepted; Matter Remanded for Loan Repayment Verification Assessee faced addition of ₹17.50 lakh u/s 68 on account of alleged bogus unsecured loans based on information from Investigation Wing (survey in case of third party). AO relied on loose papers and external report to treat loans as accommodation entries. CIT(A) partly confirmed addition. Before ITAT, assessee demonstrated that loans were taken from identified parties and furnished complete documentary evidence including loan confirmations, P...