CIT v. Goldstone Cements Ltd. (2025) 343 CTR 562 / 247 DTR 465 (Gauhati)(HC)

S. 68 : Cash credits-Conversion of loan into equity-Source of source proved-Deletion upheld-No substantial question of law.[S. 260A, CPC,1908, S.100]

CIT(A) deleted addition after verifying identity, creditworthiness, and genuineness of shareholders; Tribunal affirmed holding no fresh credit was received, only conversion of loan into equity with source explained. Both appellate authorities having recorded findings of fact, High Court held no substantial question of law arose. (AYs. 2011-12 to 2015-16 & 2017-18)

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