Addition u/s 56 (ii) of unsecured loan

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P K Agrawal (Querist)
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17 October 2015 AO added bank a sum of rs 1.00 lac amount of unsecured loans due to the reason interest was not paid and tds was not deducted. but there are some judgments where it is mentioned that the addition is deleted as because the assessse was under obligations pay back the loan and as such it cannot be treated as money received without consideration. I need the judgments copy. Can any one please send the same.

Amol S Joglekar

Amol S Joglekar (Expert)
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17 October 2015 https://articles.economictimes.indiatimes.com/2009-05-12/news/28459193_1_interest-free-loan-term-loan-interest-component

please go through this article. Hope it serves your purpose.

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