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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - In this case, the AO has made additions only ...

Income Tax

June 14, 2021

Addition u/s 68 - In this case, the AO has made additions only on the basis of statement recorded from third party ignoring various evidences filed by the assessee to prove unsecured loans taken from said parties. Therefore, AO was erred in making addition towards unsecured loans and consequent interest paid on said loans u/s.68 - AT

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