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Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Addition u/s 68 - Unexplained loan - Neither any written ...

Income Tax

December 18, 2020

Addition u/s 68 - Unexplained loan - Neither any written contract nor any identity of the Creditor, having been established in the present case, we cannot find any fault with the findings concurrently rendered by the three authorities below, that the said addition deserves to be made under Section 68 - . Merely because other two loan transactions, with two other persons was believed to be genuine and additions were set aside, that is not a sufficient ground to hold that a similar treatment should have been given with respect to the alleged loan transaction of M/s.AR.Com also - HC

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