https://www.taxtmi.com/caselaws?id=384873 The Tribunal upheld the decision to treat the loan as non-genuine for both Assessment Years 2007-08 and 2008-09, based on Moxdiam's involvement in hawala entries and financial constraints. Despite the Appellant's efforts to prove the loan's authenticity with evidence, including bank statements and confirmations, the Tribunal, Commissioner (Appeals), and Assessing Officer found the loan fictitious. The Tribunal's assessment of Moxdiam's financial capacity and activities led to the dismissal of the appeals, emphasizing the importance of evaluating surrounding circumstances. The Appeals were ultimately dismissed, with no substantial questions of law identified. en-us Tue, 13 Aug 2019 00:00:00 +0530 Fri, 01 Nov 2019 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384873 The Tribunal upheld the decision to treat the loan as non-genuine for both Assessment Years 2007-08 and 2008-09, based on Moxdiam's involvement in hawala entries and financial constraints. Despite the Appellant's efforts to prove the loan's authenticity with evidence, including bank statements and confirmations, the Tribunal, Commissioner (Appeals), and Assessing Officer found the loan fictitious. The Tribunal's assessment of Moxdiam's financial capacity and activities led to the dismissal of the appeals, emphasizing the importance of evaluating surrounding circumstances. The Appeals were ultimately dismissed, with no substantial questions of law identified. Case-Laws Income Tax Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384873