https://www.taxtmi.com/caselaws?id=426111 The Tribunal upheld the CIT(A)'s decision in the case concerning the addition of Rs.10,07,534 under Section 68 on account of a loan received from Karnimata Commerce Pvt. Ltd. The Tribunal also confirmed the disallowance of Rs.75,342 for interest on an unsecured loan. The assessee's appeal was dismissed as they could not establish the genuineness and creditworthiness of the transactions, with the Tribunal relying on the findings of the Settlement Commission in related group cases. en-us Tue, 02 Aug 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:11:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426111 The Tribunal upheld the CIT(A)'s decision in the case concerning the addition of Rs.10,07,534 under Section 68 on account of a loan received from Karnimata Commerce Pvt. Ltd. The Tribunal also confirmed the disallowance of Rs.75,342 for interest on an unsecured loan. The assessee's appeal was dismissed as they could not establish the genuineness and creditworthiness of the transactions, with the Tribunal relying on the findings of the Settlement Commission in related group cases. Case-Laws Income Tax Tue, 02 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426111