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Section 68 Loan Additions Deleted: Genuine Transactions Verified Through Banking Channels and Lender's Accounts.

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....Addition u/s 68 - unsecured loans - The loan transactions are routed through regular banking channels and reflected duly in the annual accounts of the lender company. Hence the genuineness of the transactions is also proved beyond doubt. All the three necessary ingredients of section 68 of the Act has been proved in respect of this loan transaction. - Additions deleted - AT....

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