ITAT Nagpur Deletes Sec 69A Addition – Small Loans from Friends & Relatives Explained with Identity & Banking Evidence

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, ...