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2020 (4) TMI 265 - AT - Income TaxReopening of assessment u/s 147 - addition u/s 68 holding that the unsecured loan claimed by the assessee as bogus accommodation entries - HELD THAT:- The assessee has furnished the copies of loan confirmations, copy of PAN Card, copy of income tax returns, acknowledgment for the year ending 31.03.2008, copy of Directors Reports, Auditors Report, Audited Financial statements along with Annexure for the year ending 31.03.2008, copy of bank statement showing receipt and payment of loans, copy of ledger account in the books of appellant and copy of bank statements of the appellant showing the receipts and repayment of loan etc. in respect of the parties from whom, it had obtained loans during the year relevant to the assessment year under consideration. - Decided in favour of assessee.
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