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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - unsecured loans treated as unexplained credits ...


Section 68: Unsecured Loans as Unexplained Credits Remanded for Further Examination Due to Inadequate Revenue Inquiry.

February 21, 2022

Case Laws     Income Tax     AT

Addition u/s 68 - unsecured loans treated as unexplained credits - Revenue has also failed to conduct complete enquiries to bring much needed evidences on record. Hence, in the interest of justice to both the parties, we deem it proper to remand the matter to the file of the Assessing Officer - AT

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