Section 68 Addition Cannot Be Made Merely Because AO Doubts Source From Where Lenders Obtained Funds: ITAT:

The ITAT deletes an addition of Rs 17.08 crore unsecured loans, holds an Section 68 addition cannot be sustained merely because the AO doubts the source from which the lenders obtained their funds.

ITAT Mumbai Deletes Rs 17.08 Crore Unsecured Loans Addition

Saloni Kumari

Jun 3, 2026

Last update on Jul 23, 2026

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Section 68 Addition Cannot Be Made Merely Because AO Doubts Source From Where Lenders Obtained Funds: ITAT

The ITAT deletes an addition of Rs 17.08 crore unsecured loans, holds an Section 68 addition cannot be sustained merely because the AO doubts the source from which the lenders obtained their funds.

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Saloni Kumari

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Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].