Dismissing the appeal of the Revenue the Court held that the assessee has established identity, creditworthiness and genuineness of loan transactions. Notice issued under section 133(6) was responded to by lenders. Order of Tribunal affirmed. (AY. 2012-13)
PCIT (C) v. Ambe Tradecorp (P.) Ltd. (2023) 290 Taxman 471 (Guj.)(HC)
S. 68 : Cash credits-Identity, creditworthiness and genuineness of loan transactions were established-Notice issued under section 133(6) was responded-Order of Tribunal deleting the addition was affirmed. [S. 133(6)]