Validity of assessment under section 153A - addition u/s 68 - By simply referring to General findings of...

Validity of assessment under section 153A - addition u/s 68 - By simply referring to General findings of investigations wing at Kolkata entry operators providing bogus loans the revenue authorities cannot fasten liability of undisclosed income upon the assessee, unless the assessing officer makes enquiry of his own and rebuts the documentary evidences submitted by the assessee. The assessee has duly discharged its onus by submitting the loan confirmation, income tax details and bank statements a..... .....

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