Genuineness and Creditworthiness of Loans: ITAT Directs AO to Reassess Documents and Decide Matter Accordingly [Read Order]
The ITAT noted that the AO did not have sufficient time to review the documents as they were submitted late, and thus set aside the matter, directing the AO to thoroughly examine all documents
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to reassess documents and decide the matter accordingly concerning the genuineness and creditworthiness of loans received by the assessee. The Revenue-appellant,appealed against the order dated 18.07.2018 passed by Commissioner of Income Tax(Appeals)[CIT(A)] for the Assessment Year 2013-2014. In this case, Titan…
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