Sec. 68 additions justified as assessee neither obtained confirmation nor produced creditors for cross-examination

INCOME TAX : Where assessee took loan from an entity, however, failed to produce any confirmation from such entity or produce its owner in person for cross-examination and also failed to produce any document to establish identity of such creditor or genuineness of alleged loan transaction, impugned addition made under section 68 in respect of such loan amount was justifiedINCOME TAX : Where assessee took loan from an entity, however, failed to produce any confirmation from such entity or produce its owner in person for cross-examination and also failed to produce any document to establish identity of such creditor or genuineness of alleged loan transaction, impugned addition made under section 68 in respect of such loan amount was justifiedwww.taxmann.com Latest Case LawsRead More

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