Failure to produce documents of loan transaction and purchase and pledge of shares: ITAT directs re adjudication [Read Order]

ITAT mumbai - ITAT directs readjudication - loan transaction - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai bench directed readjudication due to the failure to produce documents concerning the loan transaction and the purchase and pledge of shares. The Assessing Officer issued a notice under section 148 of the Act against the assessee, Fortune Credit Capital Limited, based on information received from DDIT (Inv), Mumbai….

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