Merely Because The Transactions Are Made Through Banking Channel Does Not Itself Prove The Creditworthiness
Pankaj Bajpai
14 July 2024 4:15 PM IST

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14 July 2024 4:15 PM IST
The Mumbai ITAT held that merely because the transactions are made through banking channel does not itself prove the creditworthiness of the lender and genuineness of the transaction. The Bench of Prashant Maharishi (Accountant Member) observed that “Subsequent repayment of the accommodation entry naturally does not show that the originally credit is genuine and provider of the...
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