https://www.taxtmi.com/caselaws?id=428669 The Tribunal dismissed all appeals by the assessee, confirming the addition of unsecured loans as unexplained cash credits under Section 68 and the disallowance of related interest expenses. The validity of reopening the case and issuing notice under Section 148 was also upheld. The Tribunal emphasized that the transactions were circular and not genuine, supported by the lenders' admissions during cross-examination. All appeals for subsequent assessment years were similarly dismissed following the principle of consistency. en-us Fri, 30 Sep 2022 00:00:00 +0530 Thu, 06 Oct 2022 07:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428669 The Tribunal dismissed all appeals by the assessee, confirming the addition of unsecured loans as unexplained cash credits under Section 68 and the disallowance of related interest expenses. The validity of reopening the case and issuing notice under Section 148 was also upheld. The Tribunal emphasized that the transactions were circular and not genuine, supported by the lenders' admissions during cross-examination. All appeals for subsequent assessment years were similarly dismissed following the principle of consistency. Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428669