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(Querist)
05 June 2016 In case if loan is claimed to have taken long before (I.e. not in previous year) but creditworthiness is not proven, can it be added under section 68?
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Jaymin Sabhaya

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Jaymin Sabhaya (Expert)
06 June 2016 Dear Sir,
Unsecured loan taken in earlier year cannot be added back under section 68 of the income tax Act, 1961.

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