Addition u/s 69 of Income Tax Act shall not be made,  if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]

By Aparna. M - On September 8, 2023 8:30 am - 2 mins read
Addition - Income- Tax- Act - assessee - identity - creditworthiness - lenders - respect - loan - purchase - property-ITAT-TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that Income Tax Addition under Section 69 of the Income Tax Act, 1961 should not be made if assessee prove identity and creditworthiness of lenders in respect of loan taken for purchase of property. Assessee, Ekta Garg, After filing the return of income,  during the assessment…

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