Dibyajyoti Chemicals P. Ltd. v. Dy. CIT (2020) 77 ITR 40 (SN) (Cuttack)(Trib.)

S. 68 : Cash credits-Failure to prove creditworthiness of the creditor –Addition is held to be justified.

The Tribunal held that the assessee failed  to prove the credit worthiness of the creditor. No  interest was paid on loan to lender in the relevant year or subsequent year. Addition is held to be justified. (AY.2011-12)