Held that Revenue has accepted loan as genuine in earlier year. News reports in public domain stated that enforcement Directorate stated net worth of party was more than Rs. 1,000 Crores. Addition is held to be not valid. (AY. 2012-13)
Rajesh Katyal v. Dy.CIT (2021) 89 ITR 71 (SN) (Delhi)(Trib.)
S. 68 : Cash credits-Loan-Revenue has accepted loan as genuine in earlier year-News reports in public domain stated that enforcement Directorate stated net worth of party was more than Rs. 1,000 Crores-Addition is held to be not valid. [S. 153A]