Assessee's failure to disclose the loan, repayment or interest paid to creditor
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of ₹1, 30,45,000/- due to the assessee’s failure to disclose the loan of ₹7,25,000/- availed from Pravinbhai Nanjibhai Golaviya HUF, along with the details of repayment or interest to the creditor, and in the absence of such details, the addition…
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