Tax Reassessment Challenged: Lack of Evidence in Loan Case Leads to High Court Reconsideration. https://www.taxtmi.com/highlights?id=74129 Addition u/s 68 - proposal to tax the same u/s 115BBE - According to the petitioner, the sum represented a genuine unsecured loan from an entity - There is nothing to indicate that the appellate authority independently applied his mind. The conclusions are in the nature of ipse dixit and no supporting reasons are discernible. - Matter restored back for re-consideration - HC en-us Fri, 12 Jan 2024 14:30:18 +0530 Fri, 12 Jan 2024 14:30:18 +0530 TaxTMI RSS Generator Tax Reassessment Challenged: Lack of Evidence in Loan Case Leads to High Court Reconsideration. https://www.taxtmi.com/highlights?id=74129 Addition u/s 68 - proposal to tax the same u/s 115BBE - According to the petitioner, the sum represented a genuine unsecured loan from an entity - There is nothing to indicate that the appellate authority independently applied his mind. The conclusions are in the nature of ipse dixit and no supporting reasons are discernible. - Matter restored back for re-consideration - HC Highlights Income Tax Fri, 12 Jan 2024 14:30:18 +0530 https://www.taxtmi.com/highlights?id=74129