ITAT dismisses Revenue’s Appeal: No Addition U/s 68 for Partner’s Capital when Identity & Creditworthiness Proved [Read Order]
The Tribunal upheld the order of the CIT(A), concluding that the capital contribution by a partner cannot be treated as unexplained cash credit when the partner’s identity, creditworthiness, and the genuineness of the transaction are established
By Adwaid M S - On April 12, 2025 9:13 am - 2 mins read
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench “C”, has dismissed the appeal filed by the Revenue challenging the deletion of an addition of Rs.8 crore made under Section 68 of the Income Tax Act, 1961. The Tribunal upheld the order of the CIT(A), concluding that the capital contribution by a partner cannot be treated…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
