[aaykarbhavan] Sec. 68 addition deleted when identity and creditworthiness of creditors were proved

 

Sec. 68 addition deleted when identity and creditworthiness of creditors were proved

May 30, 2014[2014] 45 taxmann.com 151 (Gujarat)

IT : Where assessee took loan from agriculturist and to prove their genuineness and creditworthiness; assessee produced loan confirmation, copy of DD purchased by creditors, copy of voter Id, address and extracts from land register, no addition under section 68 could be made

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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