Addition u/s 68 - unsecured loan - Merely filing the bank ...

Assessee's Unsecured Loan Additions Upheld: Failure to Prove Creditor Creditworthiness and Transaction Genuineness u/s 68.

June 27, 2022

Case Laws Income Tax AT

Addition u/s 68 - unsecured loan - Merely filing the bank statement by the assessee would not discharge the onus cast upon it to prove the creditworthiness of the loan creditor and genuineness of transaction particularly when the cash was deposited in tranches within a short spam of about ten days before issuing a D.D. in favour of the assessee. - Additions confirmed - AT

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Addition u/s 68 - unsecured loan - Merely filing the bank ...

Assessee's Unsecured Loan Additions Upheld: Failure to Prove Creditor Creditworthiness and Transaction Genuineness u/s 68.

June 27, 2022

Case Laws Income Tax AT

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