TaxTMI 
TaxTMI 
Section 68 Additions Upheld: Lack of Details on Cash Loans from Friends and Relatives Justifies Tax Decision.
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....Additions u/s 68 - in absence of any details of such cash loan received from his friends and relations and considering the fact that the assessee was showing a huge amount of opening cash balance, there was no justification for receiving cash from friends and relations, the addition made by the AO and sustained by the CIT(A) is justified....