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2021 (10) TMI 24 - AT - Income TaxAddition u/s.68 - unsecured loans - HELD THAT:- From the financial status as enumerated by ld CIT(A) in the impugned order, we find that all three creditors have sufficient reserves and surplus as reflected in their audited balance sheet, hence, there is no question to doubt their creditworthiness to advance the loan to the assessee. As noted by ld CIT(A) has accepted that Shri Narendra Kumar Jain is an entry provider in Kolkata but he is not a director of above three companies. Based on the fact that Shri Narendra Kumar Jain is an entry provider, it cannot be assumed that he has managed to rout the money from the creditors to the assessee - in the absence of any specific defect being pointed out in the order of the CIT(A), we find no good reason to interfere with the order of the CIT(A), which is hereby confirmed and the grounds of appeal of the revenue are dismissed.
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