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Income Tax - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Addition on protective basis u/s. 69A - The loan was received ...

Income Tax

April 23, 2021

Addition on protective basis u/s. 69A - The loan was received from normal banking channel as evident from the bank statement there was no cash deposited in the account of the assessee prior to giving of the loan. The Assessing Officer has not brought any material or evidences on record to disprove the aforesaid facts and evidences submitted by the assessee in support of genuineness of the loan transactions - AT

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