https://www.taxtmi.com/caselaws?id=429903 The Income Tax Appellate Tribunal (ITAT) dismissed the appeal, upholding the addition under Section 68 of the Income Tax Act for unsecured loans and the disallowance of interest expenses related to non-genuine loans. The assessee failed to prove the genuineness and creditworthiness of the transactions, despite various opportunities and judicial precedents cited. The ITAT found the lack of supporting evidence and non-compliance by the assessee, leading to the dismissal of the appeal on 19-10-2022. en-us Wed, 19 Oct 2022 00:00:00 +0530 Mon, 07 Nov 2022 09:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429903 The Income Tax Appellate Tribunal (ITAT) dismissed the appeal, upholding the addition under Section 68 of the Income Tax Act for unsecured loans and the disallowance of interest expenses related to non-genuine loans. The assessee failed to prove the genuineness and creditworthiness of the transactions, despite various opportunities and judicial precedents cited. The ITAT found the lack of supporting evidence and non-compliance by the assessee, leading to the dismissal of the appeal on 19-10-2022. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429903