Assessment u/s 153A - Addition u/s 68 - bogus unsecured loan - ...

Tribunal Upholds Deletion of Additions for Bogus Loans and Cash Credits Due to Lack of Incriminating Evidence.

April 19, 2024

Case Laws Income Tax AT

Assessment u/s 153A - Addition u/s 68 - bogus unsecured loan - unexplained cash credit received from shell/paper companies under the garb of unsecured loan - The revenue challenged the deletion of additions relating to unexplained cash credits and disallowed interest expenses. However, the tribunal upheld the decision of the Commissioner of Income Tax (Appeals) based on the absence of incriminating material found during the search.

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Assessment u/s 153A - Addition u/s 68 - bogus unsecured loan - ...

Tribunal Upholds Deletion of Additions for Bogus Loans and Cash Credits Due to Lack of Incriminating Evidence.

April 19, 2024

Case Laws Income Tax AT

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