https://www.taxtmi.com/highlights?id=57919 Unsecured loans u/s 68 - As the directors of the lending companies had filed affidavits confirming the loan transactions before the ld AO which had not been disputed. Once the averments made in the affidavit are not disputed or refuted, the same are to be construed as true and correct - Decision of apex court of 1956 followed - AT en-us Tue, 11 May 2021 15:28:36 +0530 Tue, 11 May 2021 15:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57919 Unsecured loans u/s 68 - As the directors of the lending companies had filed affidavits confirming the loan transactions before the ld AO which had not been disputed. Once the averments made in the affidavit are not disputed or refuted, the same are to be construed as true and correct - Decision of apex court of 1956 followed - AT Highlights Income Tax Tue, 11 May 2021 15:28:36 +0530 https://www.taxtmi.com/highlights?id=57919