Gupta Ashok Kumar,Hyderabad vs Income Tax Officer, Ward-1(2), ... on 25 July, 2025
13. Coming back to the case law relied upon by the
Counsel for Assessee. Learned Counsel for the Assessee has
relied upon decision of ITAT, Jaipur Bench in the ITO vs.,
Kedia Builders and Colonizers Pvt. Ltd., (supra). The
Coordinate Bench of ITAT, Jaipur Bench of the Tribunal
under identical set of facts, has deleted the addition made
by the Assessing Officer towards loan received from
companies as an explained cash credit under section 68 of
the Act. The relevant findings of the Tribunal are as under.