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Section 68 Addition Cannot Be Sustained When Loans Are Received and Repaid Through Banking Channels
Case Law Details
- Case Name
- Supra Financial Services Limited Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
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Supra Financial Services Limited Vs ITO (ITAT Delhi)
The appeals were filed against the order dated 31.07.2025 passed by the Commissioner of Income Tax (Appeals)-30, New Delhi for Assessment Year 2016–17. The first appeal arose from an assessment order passed under Sections 143(3)/147 of the Income Tax Act, 1961, and the second appeal arose from an order passed under Section 154. Since both appeals involved common issues, they were heard together and disposed of through a common order.
The case arose from information received by the Assessing Officer (AO) from the Investigation Wing after a ...
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