Addition u/s 68 - unsecured loans received from various parties ...

Section 68 of Income Tax Act not applicable for unsecured loans carried forward from previous years.

August 9, 2023

Case Laws Income Tax AT

Addition u/s 68 - unsecured loans received from various parties - the amount was not credited during the year under consideration, as such the same was carried forward from earlier years. Therefore, the provision of section 68 of the Act cannot be made applicable on the same in the year under consideration. - AT

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Addition u/s 68 - unsecured loans received from various parties ...

Section 68 of Income Tax Act not applicable for unsecured loans carried forward from previous years.

August 9, 2023

Case Laws Income Tax AT

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