Reliance Capital Loan Reclassification: No Additions to Liabilities Despite Unexplained Liability Queries on Secured Property.

Additions towards unexplained liability as loan taken from Reliance Capital Ltd. - The loan from Reliance Capital was taken against property belonging to the party other than the assessee company but that does not make the transaction tainted. - the increase in outstanding balance of short term borrowings was merely due to reclassification of part of loan from long term liability to short term liability. - No additions - AT .....

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