Assessee Not Required to Prove Source of Source for Alleged Accommodation Loan: ITAT Mumbai

ACIT Vs Trishul Reality Infra LLP (ITAT Mumbai)

Addition u/s 68 on Alleged Accommodation Loan Deleted – Assessee Not Required to Prove Source of Source for Unsecured Loan – ITAT Mumbai

The Revenue challenged deletion of addition of ₹40 lakh u/s 68 alleging that the assessee LLP was ultimate beneficiary of accommodation entries routed through a shell company, M/s Mahagouri Vintrade Pvt. Ltd., via lender M/s Gulmohar Towers Pvt. Ltd. The AO treated the loan as

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