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HomeDirect TaxShort-Term Loan Repaid in 2 Days Can’t Be Treated as Bogus Without...

Short-Term Loan Repaid in 2 Days Can’t Be Treated as Bogus Without Proper Enquiry: Delhi High Court

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By Mariya Paliwala
Short-Term Loan Repaid in 2 Days Can’t Be Treated as Bogus Without Proper Enquiry: Delhi High Court

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The Delhi High Court has dismissed an appeal filed by the Income Tax Department against Sperry Plast Ltd., holding that merely because a loan was repaid within a short period, it cannot automatically be treated as a sham or accommodation entry in the absence of concrete evidence and proper enquiry. The bench of Justice Dinesh…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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