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Section 68 Addition Sent Back for Reconsideration Due to Incomplete Examination of Loan Evidence
Case Law Details
- TaxGuru Citation
- 2026 taxguru.in 6062
- Case Name
- Divya Enterprises Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Divya Enterprises Vs ITO (ITAT Delhi)
The Income Tax Appellate Tribunal Delhi restored to the Assessing Officer the issue relating to unsecured loans of ₹1.60 crore received from Odisha Finlease Pvt. Ltd. and related interest disallowances after finding that the assessee had furnished some supporting documents and deserved another opportunity to establish the genuineness of the transaction under Section 68 of the Income Tax Act.
The appeals arose from reassessment proceedings for Assessment Years 2018-19 and 2019-20. The reassessment was initiated after a search in the case ...
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