Held that a loan transaction recorded could not be held as bogus merely because no interest was charged, especially when all transactions were routed through bank accounts. (AY. 1988-89)
PCIT, v. Bhupendra Champaklal Delal [2024] 160 taxmann.com 560 (Bom.)(HC)
S. 68 : Cash credits –Received through banking channel-Repaid in subsequent year-Failure to charge interest-Order of Tribunal deleting the addition is affirmed.[S. 260A]
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