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Section 68 Addition Deleted as Loans Supported by Documents: ITAT Delhi
Case Law Details
- Case Name
- DCIT Vs Shomit Finance Limited (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Shomit Finance Limited (ITAT Delhi)
The Revenue appealed against the order of the Commissioner of Income Tax (Appeals) dated 23.10.2025 for Assessment Year 2020-21, challenging the deletion of additions under Sections 68 and 69C of the Income Tax Act, 1961. The Assessing Officer had treated loans of ₹1,49,50,000 received from two companies as accommodation entries and made further additions towards alleged commission and unexplained interest expenditure. The Revenue contended that the lenders were connected with alleged entry operators and that the transactions were ...
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