Case Law Details
Case Name : Pawan Pandurang Nimkar Vs ITO (ITAT Nagpur)
Related Assessment Year : 2022-2023
Courts :
All ITAT ITAT Nagpur
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Pawan Pandurang Nimkar Vs ITO (ITAT Nagpur)
Small Loans from Friends Relatives Explained – Addition U/s 69A Deleted on Filing Identity Proofs Banking Evidence – ITAT Nagpu
The AO made addition of ₹1.23 lakh u/s 69A treating multiple small bank credits as unexplained money. Assessee contended that amounts were small loans received through banking channels from friends & relatives and furnished lender details, declarations & identity proofs.
ITAT observed that there were 42 small transactions ranging from ₹1,000 to ₹39,528 supported by bank statements and documentary evidence, ...
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