Addition of unsecured loan from its employees as unexplained ...

Unsecured Loans from Employees Not Unexplained Cash Credit u/s 68; Identity Cards Presented as Proof.

June 11, 2020

Case Laws Income Tax AT

Addition of unsecured loan from its employees as unexplained cash credit - employees’ identity cards were produced before the AO and the nominal amount collected from each employees was treated as a security money, therefore, it cannot be treated as unsecured loan and there is no violation of Section 68 of the Act, 1961

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Addition of unsecured loan from its employees as unexplained ...

Unsecured Loans from Employees Not Unexplained Cash Credit u/s 68; Identity Cards Presented as Proof.

June 11, 2020

Case Laws Income Tax AT

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