Sec. 68 additions valid if assessee failed to produce doc. to establish genuineness of loan transaction; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that where assessee took loan from an entity, however, failed to produce any confirmation from such entity or produce its owner in person for cross-examination and also failed to produce any document to establish identity of such creditor or genuineness of alleged loan transaction, impugned addition made under section 68 in respect of such loan amount was justified

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