https://www.taxtmi.com/caselaws?id=405069 The Tribunal found the addition of Rs. 14,50,000 under Section 68 of the Income Tax Act unjustified, as the dissolved firm was deemed capable of advancing the loan based on evidence. The procedural error of enhancing the addition without a show-cause notice was noted, leading to the deletion of the addition and allowing the assessee's appeal. en-us Tue, 02 Mar 2021 00:00:00 +0530 Tue, 09 Mar 2021 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405069 The Tribunal found the addition of Rs. 14,50,000 under Section 68 of the Income Tax Act unjustified, as the dissolved firm was deemed capable of advancing the loan based on evidence. The procedural error of enhancing the addition without a show-cause notice was noted, leading to the deletion of the addition and allowing the assessee's appeal. Case-Laws Income Tax Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405069