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2020 (2) TMI 651 - AT - Income TaxAddition u/s 68 on account of unsecured loans from directors - HELD THAT:- The assessee did not furnish the source of fund available with her as she is not maintaining regular books of account. The ld CIT(A) also noted that her return of income was only ₹ 251500/- and therefore, after meeting the household expenses, she could not have saved above sum available with her. Thus, the creditworthiness of the above loan was not proved. Similarly, the facts shows that loan from Mr. Neeraj Handa was also having the identical facts, in view of this the ld CIT(A) confirmed the above additions. On carefully perusal of the orders of the lower authorities, it is apparent that assessee has failed to prove the creditworthiness of the above loans. Assessee has failed to show creditworthiness of both the lenders. Hence, we do not find any infirmity in the orders of the lower authorities in sustaining the above addition u/s 68 - Decided in favour of revenue
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