Unexplained money u/s 69A - Unexplained loan - the loan ...

Case Laws Income Tax

January 1, 2022

Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to the assessee’s bank account - there were no significant bank transactions in the bank accounts of the loan creditors. Needless to mention that banking transaction alone will not make the transactions to be genuine. - From the above it is crystal clear that the creditworthiness of the loan creditors is not established. - AT

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Unexplained money u/s 69A - Unexplained loan - the loan ...

Case Laws Income Tax

January 1, 2022

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