https://www.taxtmi.com/caselaws?id=334875 The Supreme Court allowed the appeal, setting aside the Division Bench's order and subsequent orders. The Court found that the Division Bench erred in remanding the matter to the Assessing Officer as the loan applications were processed by the Assessee's officers, the transactions were handled by the Assessee, and the loan amounts were not reflected in the returns of the 37 persons. Despite fresh assessment proceedings, the Court held the Division Bench's decision was unsustainable, emphasizing the importance of not lightly disturbing concurrent findings of fact in a Writ Appeal. en-us Mon, 22 Aug 2016 00:00:00 +0530 Thu, 17 Nov 2016 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334875 The Supreme Court allowed the appeal, setting aside the Division Bench's order and subsequent orders. The Court found that the Division Bench erred in remanding the matter to the Assessing Officer as the loan applications were processed by the Assessee's officers, the transactions were handled by the Assessee, and the loan amounts were not reflected in the returns of the 37 persons. Despite fresh assessment proceedings, the Court held the Division Bench's decision was unsustainable, emphasizing the importance of not lightly disturbing concurrent findings of fact in a Writ Appeal. Case-Laws Income Tax Mon, 22 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334875