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Case Law Details

Case Name : J. K. Global Vs ITO (ITAT Mumbai)
Appeal Number : I.T.A. Nos. 3260, 3259 & 3258/Mum/2023
Date of Judgement/Order : 05/09/2024
Related Assessment Year : 2010-11
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J. K. Global Vs ITO (ITAT Mumbai)

ITAT Mumbai held that accommodation entries in the nature of bogus unsecured loans is liable to be added as unexplained under section 68 of the Income Tax Act. Accordingly, addition u/s. 68 confirmed.

Facts- In AY 2010-11 unsecured loans have been taken from Ryan International of

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