Case Law Details
Case Name : Ghisulal S. Jain(HUF) Vs CIT (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
CA Sandeep Kanoi
In the case of Ghisulal S. Jain(HUF) Vs. CIT, ITAT Mumbai has confirmed the addition in respect of loan received by the Assessee in the cases in which Loaner has given the loan to Assessee after depositing the cash in his bank account and on failure to establish creditworthiness of the Loaner. It further held that merely because the transactions have taken place through banking channels, is not sufficient to establish that the loans taken by the assessee are genuine. The onus is on the assesse
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.