1998 (2) TMI 2 - SUPREME COURT

Revenue allege that the loan had been advanced without security, that the loan had not been repaid and no interest on the loan was paid by the assessee and that the agreement of loan was executed contemporaneously - there was no finding that amount was received as commission or business receipt - no material produced by revenue which lead to the inference that the amount was not a loan but business income - hence amount was not assessable to tax