TRILOK CHAND JAISWAL, SAKTI,SAKTI vs. ITO, WARD-2(1), BILASPUR, BILASPUR

ITA 280/RPR/2026Status: HeardITAT Raipur06 July 2026AY 2013-148 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the AO made additions based on suspicion without concrete evidence. The assessee had provided all relevant documents to establish the identity, creditworthiness, and genuineness of the transactions.

What were the facts?

The assessee obtained loans from relatives amounting to Rs. 37 lakhs. The Assessing Officer (AO) made an addition of Rs. 30 lakhs on account of these loans, accepting Rs. 7 lakhs. The assessee provided documents like Aadhar, PAN, loan confirmations, bank statements, and ITRs of the lenders.

What were the issues?

Whether the addition made by the AO under Section 68 of the Income Tax Act, 1961, was justified when the assessee had provided sufficient evidence to prove the identity, creditworthiness, and genuineness of the loan transactions from relatives.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH “SMC”, RAIPUR

Before: SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Dinesh Kumar Agrawal &, Ms. Namrata Kayarwar, CAs
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 06.07.2026Pronounced: 06.07.2026

PER PARTHA SARATHI CHAUDHURY, JM The present appeal preferred by the assessee emanates from the order of the Ld.CIT(Appeals)/NFAC, Delhi dated 16.03.2026 for the assessment year 2013-14 as per the grounds of appeal on record.

2.

The Ld. Counsel for the assessee submitted that in this case addition has been made by the A.O u/s. 68 of the Income Tax Act, 1961 (for short ‘the Act’). The Ld. Counsel submitted that the assess

The order continues below.

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