2023 (11) TMI 89 - SCH - Income Tax

Addition u/s 68 - unexplained unsecured loans obtained by the assessee - HC confirmed ITAT findings that the additions made by AO were not sustainable - companies through which the assessees had indulge into bogus accommodation entries, were not managed or controlled by Mr. Anand Sharma, who was supposed to be the kingpin and there was no link found in the documents and the financial statements of the companies concerned. HELD THAT - No ground to interfere with the impugned order(s). The Special Leave Petitions are, accordingly, dismissed.

Summary

The Supreme Court dismissed the Special Leave Petitions as they found no grounds to interfere with the impugned order(s). Pending applications were also disposed of.