Loan amount received through proper Banking Channel and Confirmation Letter also filed: ITAT sets aside Addition as Genuineness of Transaction proved [Read Order]

Loan amount - banking channel - confirmation letter - ITAT - transaction - taxscan

Income Tax Appellate Tribunal (ITAT), Chennai sets aside addition as genuineness of transaction was proved by assessee as loan amount was received through proper banking channel and confirmation letter also filed. The assessee, Smt. SelviChittiraja has filed her return of income for the assessment year 2014-15 declaring total income of Rs.14,22,000/-. During the course of…

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