https://www.taxtmi.com/caselaws?id=418948 The Tribunal upheld the Ld.CIT(A)'s decision, dismissing the Revenue's appeals against different assessees of the same group for AY 2012-13, 2013-14, and 2014-15. The case involved treating unsecured loans as income under section 68 of the Income Tax Act and disallowance of interest paid on such loans. The Tribunal found the Ld.CIT(A)'s decision consistent with legal precedents, emphasizing the genuineness of transactions and repayment of loans. The Tribunal concluded that the Revenue failed to prove its grounds, leading to the dismissal of the appeals for all the assessees involved. en-us Wed, 23 Feb 2022 00:00:00 +0530 Mon, 28 Feb 2022 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418948 The Tribunal upheld the Ld.CIT(A)'s decision, dismissing the Revenue's appeals against different assessees of the same group for AY 2012-13, 2013-14, and 2014-15. The case involved treating unsecured loans as income under section 68 of the Income Tax Act and disallowance of interest paid on such loans. The Tribunal found the Ld.CIT(A)'s decision consistent with legal precedents, emphasizing the genuineness of transactions and repayment of loans. The Tribunal concluded that the Revenue failed to prove its grounds, leading to the dismissal of the appeals for all the assessees involved. Case-Laws Income Tax Wed, 23 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418948