https://www.taxtmi.com/highlights?id=47487 Addition of unexplained credit u/s 68 - assessee could not produce the party for examination before AO or CIT(A) - balance sheet of the lender clearly shows that the lender have deployed funds are non income producing funds, it does not result into any revenue to that company. The lender clearly is a paper company and nothing more than that - failed to discharge its initial onus as cast upon it u/s 68 - addition sustained en-us Thu, 27 Jun 2019 07:39:10 +0530 Thu, 27 Jun 2019 07:39:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47487 Addition of unexplained credit u/s 68 - assessee could not produce the party for examination before AO or CIT(A) - balance sheet of the lender clearly shows that the lender have deployed funds are non income producing funds, it does not result into any revenue to that company. The lender clearly is a paper company and nothing more than that - failed to discharge its initial onus as cast upon it u/s 68 - addition sustained Highlights Income Tax Thu, 27 Jun 2019 07:39:10 +0530 https://www.taxtmi.com/highlights?id=47487