Increases in Short Term Loans and Advances Duly Explained: ITAT deletes Addition of Rs. 3.86 Crores u/s 69 of Income Tax Act [Read Order]

The alleged increase in the short term loans and advances was duly explained

By Aiswarya Krishnadas - On May 19, 2024 7:58 am - 3 mins read

ITAT Kolkata - Income Tax Act - tax news - Increases in Short Term Loans - Taxscan

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 3.86 crores under Section 69 of the Income Tax Act, 1961 determining that the alleged increases in short-term loans and advances were duly explained. The assessee M/s. Manohar Dealcom Private Limited was a private limited company. Return for…

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