The Hon’ble ITAT has given clear findings about the identity, genuineness and creditworthiness of the investors and also the investors had the capacity to make the investments. The valuation report produced by the assessee’s chartered accountant is conclusive. No substantial question of law arises. Appeal of Revenue was dismissed. (AY.2015-16)
PCIT v. Enrich Agro Food Products (P.) Ltd. (2023) 455 ITR 664 /291 Taxman 606 (Delhi)(HC)
S. 68 : Cash credits-Proved the identity, creditworthiness and genuineness of the transactions-Deletion of addition is justified. [S. 260A]