Income Tax - Highlights / Catch Notes

Addition u/s 68 - Creditworthiness of the Loan Lender - ...

Tribunal Orders Detailed Probe into Loan Creditor's Creditworthiness; Appellant to Submit Proof u/s 68.

May 16, 2024

Case Laws Income Tax AT

Addition u/s 68 - Creditworthiness of the Loan Lender - Genuineness of the Transaction - The Tribunal set aside the matter to the AO for a thorough examination of the creditworthiness of the loan lender. The appellant is required to furnish all necessary documents to establish the authenticity and creditworthiness of the loan creditor. The AO is instructed to allow reasonable opportunity for the appellant to present supporting evidence.

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Addition u/s 68 - Creditworthiness of the Loan Lender - ...

Tribunal Orders Detailed Probe into Loan Creditor's Creditworthiness; Appellant to Submit Proof u/s 68.

May 16, 2024

Case Laws Income Tax AT

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