https://www.taxtmi.com/caselaws?id=38603 The case involved a private limited company for the assessment year 1962-63. The Income-tax Officer treated loans as undisclosed income due to lack of creditor identification. The Tribunal upheld this decision, deeming confirmatory letters insufficient to prove loan genuineness. The Court agreed, finding the Tribunal's decision reasonable. The question under section 256(2) of the Income-tax Act was answered negatively, favoring revenue, with no costs ordered. Judge C. K. Banerji concurred. en-us Thu, 14 Jul 1977 00:00:00 +0530 Wed, 07 Apr 2010 15:10:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38603 The case involved a private limited company for the assessment year 1962-63. The Income-tax Officer treated loans as undisclosed income due to lack of creditor identification. The Tribunal upheld this decision, deeming confirmatory letters insufficient to prove loan genuineness. The Court agreed, finding the Tribunal's decision reasonable. The question under section 256(2) of the Income-tax Act was answered negatively, favoring revenue, with no costs ordered. Judge C. K. Banerji concurred. Case-Laws Income Tax Thu, 14 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38603