ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]

ITAT upholds addition made on - account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Delhi Bench upheld the addition made on account of unverifiable unsecured loan due to failure to prove creditworthiness of lenders. The assessee Kirat Hotels Pvt. Ltd.is engaged in the Business of Running Restaurants and Bars.After filing the return of income assesses case was selected for scrutiny on the reason…

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