Cash loans amount sec 68 and sec 115 bbe provision applicable

it assessess cash loans rs:19,000/- from different 40 persons (un secured loans) amount received.
question:
sec 68 and sec 115 bbe both provisions applicable in it act
Replies (2)
Quick Summary
This discussion examines whether both Section 68 and Section 115BBE of the Income Tax Act apply to cash loans. Specifically, it questions the tax treatment of receiving £19,000 from 40 different individuals, totalling £760,000. The core issue is understanding the combined impact of these two sections on such transactions.

Only 19000 from 40 people or 19000 from each one of the 40 people?

Each person rs:19,000/- *40 different persons amount received

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