engaged in the accommodation entries of Long Term Capital
Gain / unsecured loans to various parties. It was submitted that the
Assessing Officer in the case ... made on account of Long Term Capital Gain or
unsecured loans but it was made by treating as bogus the sale and
purchase of cloth
material was
found which could impinge upon the genuineness of the
unsecured loan.
5. BECAUSE the learned CIT(A) has erred ... certain
unsecured loans from two loan creditors namely Success Vyapar Limited and Neil
Industries Ltd. The Assessing Officer added back such unsecured loans holding
them
below:
"During the year under consideration, the assessee
has raised unsecured loans of Rs. 30,00,000/- from
M/s Neil industries ... engaged in providing accommodation
entry in the form of unsecured loans/share
I.T.(SS)A. No.427 & 428/Lkw/2019
Assessment year
addition of Rs.4,51,00,000/- on account of bogus unsecured loan and
ITA No.144/LKW/2022
ITA. No.139/LKW/2022
Page ... statement recorded during
the course of survey admitted that the unsecured loan raised was bogus
and was arranged by paying commission thereon
addition of Rs.4,51,00,000/- on account of bogus unsecured loan and
ITA No.144/LKW/2022
ITA. No.139/LKW/2022
Page ... statement recorded during
the course of survey admitted that the unsecured loan raised was bogus
and was arranged by paying commission thereon
confirming addition of
Rs.43,00,000/- on account of unsecured loan as unexplained
cash credit u/s 68 of the IT Act.
7. That ... confirming addition of
Rs.45,00,000/- on a account of unsecured loan us. 68 of the
Income Tax Act, 1961 .
6. That the assessment
confirming addition of
Rs.43,00,000/- on account of unsecured loan as unexplained
cash credit u/s 68 of the IT Act.
7. That ... confirming addition of
Rs.45,00,000/- on a account of unsecured loan us. 68 of the
Income Tax Act, 1961 .
6. That the assessment
confirming addition of
Rs.43,00,000/- on account of unsecured loan as unexplained
cash credit u/s 68 of the IT Act.
7. That ... confirming addition of
Rs.45,00,000/- on a account of unsecured loan us. 68 of the
Income Tax Act, 1961 .
6. That the assessment
confirming addition of
Rs.43,00,000/- on account of unsecured loan as unexplained
cash credit u/s 68 of the IT Act.
7. That ... confirming addition of
Rs.45,00,000/- on a account of unsecured loan us. 68 of the
Income Tax Act, 1961 .
6. That the assessment
confirming addition of
Rs.43,00,000/- on account of unsecured loan as unexplained
cash credit u/s 68 of the IT Act.
7. That ... confirming addition of
Rs.45,00,000/- on a account of unsecured loan us. 68 of the
Income Tax Act, 1961 .
6. That the assessment
