https://www.taxtmi.com/caselaws?id=433283 The Tribunal partly allowed the appeal, upholding the Principal Commissioner of Income Tax's order on the treatment of the unsecured loan of Rs. 20 lakh as unexplained cash credits under Section 68. However, the Tribunal set aside the direction on treating the repayment of loans to seven companies as unexplained expenditure under Section 69C, directing the Assessing Officer to re-adjudicate the issue of the unsecured loan after providing a reasonable opportunity for the assessee to be heard. en-us Mon, 23 Jan 2023 00:00:00 +0530 Wed, 25 Jan 2023 08:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433283 The Tribunal partly allowed the appeal, upholding the Principal Commissioner of Income Tax's order on the treatment of the unsecured loan of Rs. 20 lakh as unexplained cash credits under Section 68. However, the Tribunal set aside the direction on treating the repayment of loans to seven companies as unexplained expenditure under Section 69C, directing the Assessing Officer to re-adjudicate the issue of the unsecured loan after providing a reasonable opportunity for the assessee to be heard. Case-Laws Income Tax Mon, 23 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433283