13 results for “section 68”+ Section 156(3)clear
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In the result, the appeal of the assessee is allowed and the revenue appeal is dismissed
Bench: Sh. Udayan Das Gupta & Sh. Khettra Mohan Roy
156 Taxmann.com 75 has observed as under: “Where appellant showed unsecured loans received during relevant assessment year and AO made addition on ground that appellant failed to discharge onus of liability as laid down under section 68, since amount of loan received by appellant was returned to loan party during year itself and all transactions were carried out through