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Income Tax - Highlights / Catch Notes

Home Highlights July 2022 Year 2022 This

Addition u/s 68 - unexplained cash credit - unsecured loan - the ...

Income Tax

July 30, 2022

Addition u/s 68 - unexplained cash credit - unsecured loan - the assessee has not been able to establish the creditworthiness of lender nor has he been able to establish the genuineness of transaction. A perusal of the statement taken on record of the creditor raises serious doubt both on the creditworthiness of the party and genuineness of the transaction. - additions confirmed - AT

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