[aaykarbhavan] Loan received from minor son treated as unexplained as assessee failed to explain source of loan

Loan received from minor son treated as unexplained as assessee failed to explain source of loan

February 9, 2015[2015] 53 taxmann.com 526 (Allahabad)

IT : Where assessee explained source of loan taken from his minor sons being amount gifted to them by their uncle, since assessee's brother categorically denied making any gift, amount in question was rightly added to assessee's taxable income

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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