Category: Income-Tax Act

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R. G. Consultants P. Ltd. v. DCIT (2020) 78 ITR 37 (SN)(Delhi) (Trib)

S. 68 : Cash credits — Unsecured loans — Lenders either directors or relatives of directors of Assessee — Assessee furnishing PAN, bank statements, confirmations and copies of income-tax returns of lenders — None of lenders were entry providers — No cash deposited in lenders’ account prior to issuing cheques — Assessee not purchasing cheque by paying cash — Addition unsustainable.