The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the loan amount obtained by the assessee from his friends out of their labour work income cannot be dismissed by the income tax department as “unbelievable” as per the provisions of the Income Tax Act, 1961. During the assessment proceedings against the assessee, Shri…
Taxscan Premium
Why should you subscribe?
- Enjoy our website without interruptions from advertisements
- Receive Daily newsletters
- Receive realtime Telegram/Whatsapp news updates
- Download original Judgements / Order / Notifications / Circulars, etc
- Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
₹1199 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now