PCIT (C) v. E-City Projects Lucknow (P.) Ltd. (2023) 290 Taxman 281 / 223 DTR 468 / 332 CTR 857 (Orissa)(HC)

S. 68 : Cash credits-Loans-Search-Accommodation entries-Through banking channels-Deletion of addition by the Tribunal was affirmed. [S. 132]

Held that the assessee disclosed loans in returns filed and during search accounts of assessee proved that disclosed loan amount was received through banking channels. No incriminating material was found during the search. Order of Tribunal was affirmed. (AY. 2012-13 and 2013-14)