Plausible view taken by AO can’t be considered erroneous or prejudicial to interest of revenue; SLP dismissed

INCOME TAX : SLP dismissed against impugned order passed by High Court holding that where assessee-company had received unsecured loans from two different companies and Assessing Officer had made inquires in detail and accepted genuineness of same, such view of Assessing Officer being a plausible view could not be considered erroneous or prejudicial to interest of revenue

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316642/plausible-view-taken-by-ao-can’t-be-considered-erroneous-or-prejudicial-to-interest-of-revenue-slp-dismissed.aspx