Addition of loan Amount as Outstanding Balance without Proper Evidence and Documents: ITAT directs AO to Re-adjudicate [Read Order]

loan Amount as Outstanding Balance - Proper Evidence - Documents - ITAT - Re-adjudicate -Addition of loan Amount - taxscan

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer to re-adjudicate the case regarding the addition of a loan amount as an outstanding balance. The assessee TSP Engineers Pvt. Ltd was a company engaged in the business as a Contractor taking contracts of all types, e.g. Civil &…

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