Tag: loan creditor
Cash deposited in bank before giving unsecured loan. The addition if at all can be made u/s 69A in the hands of loan creditor and not u/s 68 in the hands of receiver. In a recent judgment, ITAT Raipur has held where loan creditor deposited cash just before …
No addition u/s 68 for unsecured loan taken without payment of interest where assessee furnished name, address, PAN and transaction was routed through banking channels. ABCAUS Case Law Citation ABCAUS 3576 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
Opening balance of loan creditor brought forward from preceding year cannot be treated as unexplained cash credit or bogus credit ABCAUS Case Law CitationABCAUS 3492 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming an addition on account …
Addition u/s 69 deleted as AO failed to call information from bank of loan creditor. Case restored back for verifying creditworthiness of the loan creditor by calling information from the Bank ABCAUS Case Law Citation: ABCAUS 2439 (2018) 07 ITAT The instant appeal was filed by the assessee …
