HC confirmed sec. 69C additions as purchases were made from non-existent parties

IT: Where assessee accepted unsecured loans from three parties, in view of fact that assessee failed to prove creditworthiness of said parties and, moreover, amount had been deposited to bank accounts of those parties on same day when cheques were issued to assessee, impugned addition made under section 69A in respect of loan amount was to be confirmed

from www.taxmann.com Latest Case Laws http://bit.ly/2suTlCQ