Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Addition u/s 68 - unexplained cash credit - Unsecured loan - departmental representative stated that the learned Commissioner of Income tax (Appeals) should have given a direction for making an addition of the above sum in the year in which such sum was received. We fail to appreciate this argument because of the reason that the learned Assessing Officer raises no such ground of appeal. - AT
Addition u/s 68 - unexplained cash credit - Unsecured loan - departmental representative stated that the learned Commissioner of Income tax (Appeals) should have given a direction for making an addition of the above sum in the year in which such sum was received. We fail to appreciate this argument because of the reason that the learned Assessing Officer raises no such ground of appeal. - AT
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