Court Upholds Income Tax Addition On Failure To Prove Genuineness Of Creditors Who Gave Cash Loan: Jharkhand High Court

In a recent development, the Income Tax Appellate Tribunal (ITAT) at Ranchi has upheld the additions made by the Assessing Officer in Tax Appeal No. 01 of 2020 and Tax Appeal No. 02 of 2020. The appeals were filed by Rajmeet Singh and Harmeet Singh, respectively, against the common order of the ITAT. Background of the Case: Both Rajmeet Singh and Harmeet Singh had filed their respective appeals after the…