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What documents did the assessee provide to prove the identity, genuineness, and creditworthiness of the loan transaction?
What documents did the assessee provide to prove the identity, genuineness, and creditworthiness of the loan transaction?
Confirmation, copy of Income tax returns of the lender, copy of bank statements of the lender
What did the financials of the company, in which the lender was a director, reveal about the lender's capacity to advance amounts?
What did the financials of the company, in which the lender was a director, reveal about the lender's capacity to advance amounts?
The company made substantial profits and had sufficient funds to advance amounts to the Director.
Was the assessee required by law to prove the source of source in this case?
Was the assessee required by law to prove the source of source in this case?
No
What did the tribunal conclude regarding the identity, genuineness, and creditworthiness of the creditor?
What did the tribunal conclude regarding the identity, genuineness, and creditworthiness of the creditor?
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What was the error made by the Assessing Officer (AO) in treating the loan received by the assessee?
What was the error made by the Assessing Officer (AO) in treating the loan received by the assessee?
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What directive was given to the AO regarding the addition made u/s 68 after reviewing the case?
What directive was given to the AO regarding the addition made u/s 68 after reviewing the case?
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Under which section was the addition u/s 2(22)(e) made?
Under which section was the addition u/s 2(22)(e) made?
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Why did the company provide a loan to the assessee under section 2(22)(e)?
Why did the company provide a loan to the assessee under section 2(22)(e)?
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What action did the CIT(A) take regarding the addition u/s 2(22)(e)?
What action did the CIT(A) take regarding the addition u/s 2(22)(e)?
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What was the submission made by the counsel regarding the loan provided by the company under section 2(22)(e)?
What was the submission made by the counsel regarding the loan provided by the company under section 2(22)(e)?
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