Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]

By Aparna. M - On October 24, 2023 12:50 pm - 3 mins read

Third - Party Statements used against assessee until and unless the opportunity of cross examination is afforded - TATIT Act towards receipt of interest free unsecured loan - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that third-party statements cannot be used against the assessee until and unless the opportunity of cross-examination is afforded. Therefore, the bench deleted the addition made under Section 68 of the Income Tax Act towards the receipt of interest-free unsecured loans. The assessee, Jayesh R. Thakkar, is…

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