https://www.taxtmi.com/highlights?id=72241 Additions towards unexplained liability as loan taken from Reliance Capital Ltd. - The loan from Reliance Capital was taken against property belonging to the party other than the assessee company but that does not make the transaction tainted. - the increase in outstanding balance of short term borrowings was merely due to reclassification of part of loan from long term liability to short term liability. - No additions - AT en-us Wed, 27 Sep 2023 08:40:51 +0530 Wed, 27 Sep 2023 08:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72241 Additions towards unexplained liability as loan taken from Reliance Capital Ltd. - The loan from Reliance Capital was taken against property belonging to the party other than the assessee company but that does not make the transaction tainted. - the increase in outstanding balance of short term borrowings was merely due to reclassification of part of loan from long term liability to short term liability. - No additions - AT Highlights Income Tax Wed, 27 Sep 2023 08:40:51 +0530 https://www.taxtmi.com/highlights?id=72241