Dismissing the appeal of the Revenue the Court held that the Tribunal had correctly evaluated the facts and had rightly deleted the additions made under section 68 on account of sundry creditors and unsecured loans. The transactions are through banks, the parties have responded to notice under section 133(6) and in their statement under section 131 of the Act. (AY. 2013-14)
PCIT v. Topline Buildtech Pvt. Ltd. (2024) 467 ITR 270/300 Taxman 54 (Delhi)(HC)
S. 68 : Cash credits-Sundry credits and unsecured Loans-Responding to notice under Section 133(6) and confirming transactions through banks in their statements under Section 131-Order of Tribunal is affirmed-No substantial question of law. [S. 131, 133(6), 260A]