Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had ...

Assessee Successfully Discharges Burden of Proof u/s 68 for Unsecured Loans; Additions Deleted.

July 14, 2023

Case Laws Income Tax AT

Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had also paid interest on the unsecured loan after deducting TDS @20% which reveals that during subsequent assessment year 2012-13 (A.Y. 2013- 14) the assessee had squared up the account by repaying entire loan amount along with due interest after deducting TDS @ 20% - assessee has successfully discharges its onus lend on his shoulders - Additions deleted - AT

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Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had ...

Assessee Successfully Discharges Burden of Proof u/s 68 for Unsecured Loans; Additions Deleted.

July 14, 2023

Case Laws Income Tax AT

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