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2019 (1) TMI 581 - AT - Income TaxBogus unsecured loan as cash credit u/s. 68 - relevant inquiries - Held that:- The assessing officer has not made any such concrete investigation/ examination as carried out in the case of the PavanKumar.M. Sanghvi [2017 (5) TMI 1159 - ITAT AHMEDABAD] to substantiate with relevant material that the loan transaction of the assessee were not genuine. It is clear from the above facts that the assessing officer has simply on the basis of self analysis concluded that loan transactions were not genuine. After considering the above facts and the finding of ld. CIT(A) we do not find any merit in the appeal of the revenue. - Decided in favour of assessee.
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