Bom HC: Can’t Treat Disclosure as Full if Material Suggests Loan is Nothing but Undisclosed Fund - 30.04.2025

Bombay HC has observed that if there is a prima-facie material suggesting that the transaction of loan is nothing but the undisclosed funds of the Petitioner then the disclosure made in the course of the original assessment proceedings cannot be treated as full for the purpose of the assessment.

Tags : Bombay High Court Undisclosed Fund Transaction of Loan

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