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Section 68 Addition Deleted – Source of Source Not Required for AY 2014-15: ITAT Delhi

Case Law Details

Case Name : Singla Realters Ltd Vs ITO (ITAT Delhi)
Related Assessment Year : 2014-15
Courts : All ITAT ITAT Delhi
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Singla Realters Ltd Vs ITO (ITAT Delhi)

Unsecured loan additions u/s 68 deleted – Source of source not required for A.Y. 2014-15; expenses restricted to 20% disallowance – ITAT Delhi

In Singla Realters Ltd vs ITO (A.Y. 2014-15), the AO made multiple additions including disallowance of construction material & travelling expenses and addition of ₹1.69 crore u/s 68 towards unsecured loans. The Tribunal held that since complete supporting details were not furnished

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Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4550
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

My Published Posts

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