{"id":29766,"date":"2022-09-11T18:48:15","date_gmt":"2022-09-11T13:18:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-aarhat-investments-2022-bcaj-may-p-47-bomhc\/"},"modified":"2022-09-11T18:48:15","modified_gmt":"2022-09-11T13:18:15","slug":"pcit-v-aarhat-investments-2022-bcaj-may-p-47-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-aarhat-investments-2022-bcaj-may-p-47-bomhc\/","title":{"rendered":"PCIT v. Aarhat Investments ( 2022) BCAJ- May \u2013 P. 47 ( Bom)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the Revenue the Court held that the loan transaction was through banking channel , creditworthiness established , statement of lenders were recorded . Merely on suspicion and without properly evaluating the genuineness of transactions addition cannot be made\u00a0 when the explanation offered\u00a0 by the assessee was not found to be false . ( ITA No. 156 of 2018 dt 25 -3 -2022 )(AY. 2009 -10 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits \u2013 Enquiry was conducted by the Assessing Officer -Transaction was through banking channel- Creditworthiness established \u2013 Statement of lenders recorded \u2013 Explanation was not  found to be false \u2013 Deletion of addition is affirmed [ S. 131(1)(d) ]<\/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-29766","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7K6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29766","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=29766"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29766\/revisions"}],"predecessor-version":[{"id":29767,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29766\/revisions\/29767"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}