Addition u/s 68 - genuineness of the loan transaction - The ...

Income Tax

January 5, 2024

Addition u/s 68 - genuineness of the loan transaction - The submission that the AO should have issued notices to the lender i.e., GWPL does not impress us. The reason being that if the appellant/assessee was unable to produce the requisite material since the lender i.e., GWPL had been struck off from the Register of Companies, it would have been equally futile if notices had been issued by the AO. - HC

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Addition u/s 68 - genuineness of the loan transaction - The ...

Income Tax

January 5, 2024

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