ITO vs. Hi link City Homes Pvt. Ltd. (ITAT Indore)

Court: ITAT Indore
Head Notes:

*“Alleged accommodation entries taken From alleged shell companies i.e. Jayant Securities & Finance Ltd. and Jay Jyoti (India) Pvt. Ltd. are Genuine Loans ”- ITAT Indore*

The issue involved was whether “Merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness and genuineness of the cash creditors are furnished by the assessee, can be a reasonable basis to make addition for unexplained cash credit u/s 68 of the Act.?” Which was held in favour of the assessee.

Section(s): 68, alleged accommodation entries
Counsel(s): CA Milind Wadhwani
Dowload Pdf File Click here to download the file in pdf format
Uploaded By CA Milind Wadhwani (Hons.),DISA, FAFD(Cert.), CCCA(Cert.),Research (Phd.) Scholar Mob. 9826273333*
Date of upload: September 23, 2022

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