https://www.taxtmi.com/caselaws?id=444240 The Tribunal upheld the additions of Rs. 2,18,66,082 related to unsecured loans and interest under section 68 of the Income Tax Act, 1961, due to the assessee's failure to establish the creditworthiness of lenders and the genuineness of transactions. The disallowance of interest without a final show-cause notice and alleged double addition of interest were dismissed as baseless. No disallowance or addition was made under section 40(a)(ia). The appeal was dismissed, affirming the findings of the AO and CIT(A). en-us Mon, 09 Oct 2023 00:00:00 +0530 Wed, 11 Oct 2023 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444240 The Tribunal upheld the additions of Rs. 2,18,66,082 related to unsecured loans and interest under section 68 of the Income Tax Act, 1961, due to the assessee's failure to establish the creditworthiness of lenders and the genuineness of transactions. The disallowance of interest without a final show-cause notice and alleged double addition of interest were dismissed as baseless. No disallowance or addition was made under section 40(a)(ia). The appeal was dismissed, affirming the findings of the AO and CIT(A). Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444240