https://www.taxtmi.com/caselaws?id=425192 The High Court dismissed the appeal, upholding the orders in favor of the assessee passed by the Commissioner of Income Tax (Appeal) and Tribunal. It was found that the Assessing Officer had not properly considered the evidence provided by the assessee regarding the unsecured loans, leading to a conclusion that the transactions were genuine. The High Court emphasized that the Assessing Officer's actions lacked proper legal basis and noted that allegations of money laundering were unfounded in this case. en-us Thu, 14 Jul 2022 00:00:00 +0530 Mon, 06 Apr 2026 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425192 The High Court dismissed the appeal, upholding the orders in favor of the assessee passed by the Commissioner of Income Tax (Appeal) and Tribunal. It was found that the Assessing Officer had not properly considered the evidence provided by the assessee regarding the unsecured loans, leading to a conclusion that the transactions were genuine. The High Court emphasized that the Assessing Officer's actions lacked proper legal basis and noted that allegations of money laundering were unfounded in this case. Case-Laws Income Tax Thu, 14 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425192