https://www.taxtmi.com/caselaws?id=343421 The Tribunal upheld the addition of Rs. 20,00,000 as unexplained cash credit under Section 68 for unsecured loans, concluding that the loan transactions were not genuine due to inconsistencies and suspicious financial patterns of the lending entities. Additionally, the Tribunal disallowed the deduction of Rs. 3,66,041 for interest paid on these loans, as the principal loan amounts were deemed non-genuine. The appeal was dismissed, affirming the additions and disallowances. en-us Wed, 17 May 2017 00:00:00 +0530 Sat, 18 Nov 2017 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343421 The Tribunal upheld the addition of Rs. 20,00,000 as unexplained cash credit under Section 68 for unsecured loans, concluding that the loan transactions were not genuine due to inconsistencies and suspicious financial patterns of the lending entities. Additionally, the Tribunal disallowed the deduction of Rs. 3,66,041 for interest paid on these loans, as the principal loan amounts were deemed non-genuine. The appeal was dismissed, affirming the additions and disallowances. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343421