Section 68 Addition Deleted as Identity, Creditworthiness & Genuineness Established – ITAT Kolkata

L.R. Agro Product Pvt. Ltd. Vs ITO (ITAT Kolkata)

Sec 68 Addition on Share Application Loans Deleted – Documentary Evidence Ignored by AO CIT(A) – Identity, Creditworthiness Genuineness Established – ITAT Kolkata

ITAT Kolkata deleted addition of ₹86.90 lakh u/s 68 holding that assessee had furnished complete documentary evidence including PAN, ITR, balance sheets, confirmations & bank statements proving identity, creditworthiness & genuineness of subscribers and lenders. Tribunal observed that both AO & CIT(A) failed to point out any defe

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