HC upholds recovery proceedings against ‘Jindal Ltd’ as genuineness of loan transaction was in serious dispute

INCOME TAX : Where proof of identity of loan depositors, capacity of creditors to advance loans and genuineness of transaction was in serious dispute, assessee's writ challenging recovery and collection of tax was to be set aside

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194343/hc-upholds-recovery-proceedings-against-‘jindal-ltd’-as-genuineness-of-loan-transaction-was-in-serious-dispute.aspx