Unsecured loan/ Gifts to be added in Income if paying capacity of giver is not proved: HC

Sitaram Ramchanddas Patel Vs ITO (Gujarat High Court)

When the assessee failed to prove the capacity of the concerned persons who alleged to have given the unsecured loan and/or gift, it cannot be said that the learned Tribunal has committed any error in confirming the additions made by the Assessing officer and confirmed by the CIT (Appeals) of Rs.19,92,730/- as unsecured Please become a Premium member. If you are already a Premium member, login here to access the full content.