Dear Deepak Gaba,
In 'Statement of Facts' You will mention the Facts AS IT IS -
Like "THE ASSESSEE (PAN NO.xxxxxxxxxx) HAS TAKEN UNSECURED LOAN BEARING INTEREST xx% per annum( or interest free) AMOUNTING TO Rs. xxxxxx on xxxxx FROM Mr. X (pan no. XXXXX), REDISENT OF xxxx, FOR THE PURPOSES OF HIS BUSINESS..Assessee has also complied with the provisions of Sec 269 SS..
Grounds of appeal:-
Learned AO has acted arbitarily in adding the above mentioned Loan to the total Income of the assessee for the assessment year xxxxxx while passing assessment order u/s xxxx