Asst. CIT v. Evermore Stock Brokers P. Ltd. (2023)108 ITR 13 (Delhi) (Trib)

S. 68 : Cash credits-Unsecured loans —Commercial transactions-Genuineness is proved-Addition is deleted.

 

Held  that that the transactions were commercial, transparent, and identifiable in tax records. The addition made by the Assessing Officer was flawed due to his failure to consider the rotation of money and the low peak credit. Order of CIT(A) is affirmed.(AY.2015-16)