Delhi HC Directs AO to Provide Evidence in Fictitious Loan Case

Rakesh Kumar Mohindroo Vs ITO (Delhi High Court) Introduction: The Delhi High Court recently addressed the case of Rakesh Kumar Mohindroo vs. Income Tax Officer (ITO) for Assessment Year (AY) 2019-20. The petitioner challenged various notices and an order issued under the Income Tax Act, 1961. The central allegation was the petitioner’s involvement in a fictitious loan of Rs. 40 lakhs facilitated by BKR Capital Pvt. Ltd. (BKR). This article provides an overview of the case, its detailed analysis, and the court’s conclusion, emphasizing the need for relevant evidence to support alle...