The assessee had taken Loan from Palak Trading Co (P) Ltd the AO made addition under section 68 of the Act on the ground that the\u00a0 lender company is belongs to Pravin Kumar Jain group who is a accommodation entries provider . On appeal the CIT (A) deleted the addition on the ground that the appellant has furnished the loan confirmation , PAN No , bank account of lender , copy of return of lender , details of interest paid . The CIT (A)\u00a0 also held that in response to notice under section 133(6) the lender has filed the required details. On appeal by revenue the Tribunal affirmed the order of the order of CIT (A) . Followed\u00a0 Rushabh Enterprises v . ACIT (WP No.167 of 2015 dt 15-4 2015 Judgements in\u00a0\u00a0 Konark Structural Engineering (P) Ltd. v. Dy. CIT [2018] 90 taxmann.com 56(Bom) (HC) and CIT v. Nova Promoters & Finlease (P) Ltd. [2012] 18 taxmann.com 217 (Delhi) (HC)\u00a0 distinguished . ( ITA No. 4544\/M\/2017 dt 20-2-2019 (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits -Accommodation entries \u2013 Pravin Kumar Jain group \u2013Loan confirmation , PAN no, copy of bank account of lender was produced \u2013 Submission was filed in pursuance of notice u\/s 133(6) of the Act -Deletion of addition is held to be justified [ S.133(6) <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14052","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3EE","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14052"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14052\/revisions"}],"predecessor-version":[{"id":14053,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14052\/revisions\/14053"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}