Tribunal held that the assessee has established the identity of the land owners, filed the copies of lease agreements. Accordingly the deletion of addition by the CIT(A) is affirmed. As regards unsecured loan the assessee has established the identity, creditworthiness and genuineness of the transaction. Order of CIT(A) deleting the addition is affirmed. (AY. 2013-14)
ITO v. Goodyield Farming Ltd (2023) 223 TTJ 121 (Mum)(Trib)
S. 68 : Cash credits-Agricultural income-Lease agreement furnished-Deletion of addition is affirmed-Un secured loan-Discharged the burden-Deletion of addition is justified. [S. 10(1), 133(6)]