TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Disputed addition under s.68 for unexplained loan upheld despite favorable treatment of other loans; s.131 statements and late retraction insufficient</h1> <h3>C.V. RAVI Versus THE INCOME - TAX OFFICER</h3> The SC dismissed the SLP and upheld the concurrent findings of lower authorities and HC that an addition under s.68 for an unexplained loan was justified. ... Addition u/s 68 - Unexplained loan - addition based on recording statements under Section 131 - statement was later on retracted by the Assessee, but the time gap between the such retraction and the said statement is more than one year - HC held we cannot find any fault with the findings concurrently rendered by the three authorities below, that the said addition deserves to be made under Section 68 - Merely because other two loan transactions, with two other persons was believed to be genuine and additions were set aside, that is not a sufficient ground to hold that a similar treatment should have been given with respect to the alleged loan transaction of M/s.AR.Com also - HELD THAT:- SLP dismissed. The Supreme Court of India dismissed the special leave petition as they were not inclined to interfere with the impugned order. The pending application stands disposed of.
TaxTMI 
