https://www.taxtmi.com/caselaws?id=449599 Kerala HC held that addition u/s 68 for loans from 5 persons was invalid as petitioner was not given notice regarding these transactions. While creditworthiness of 17 lenders was satisfactory and 11 were unsatisfactory, the assessment order mentioned 28 persons but only 22 were in the notice. Court remanded matter to assessing authority for fresh assessment order, directing petitioner to file response regarding the 5 persons only. No opportunity granted for other creditors. en-us Fri, 19 Jan 2024 00:00:00 +0530 Thu, 15 Feb 2024 07:31:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449599 Kerala HC held that addition u/s 68 for loans from 5 persons was invalid as petitioner was not given notice regarding these transactions. While creditworthiness of 17 lenders was satisfactory and 11 were unsatisfactory, the assessment order mentioned 28 persons but only 22 were in the notice. Court remanded matter to assessing authority for fresh assessment order, directing petitioner to file response regarding the 5 persons only. No opportunity granted for other creditors. Case-Laws Income Tax Fri, 19 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449599