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The Gujarat High Court dismissed an appeal filed by Pavankumar M Sanghvi , challenging the Income Tax Appellate Tribunal’s (ITAT) decision to uphold additions of Rs. 20 lakhs and Rs. 3.66 lakhs under ...

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Consequently, the Rs 20 lakh loan amount was added to Mr. Sanghvi’s income as unexplained credit, and the corresponding interest deduction of Rs 3,66,041 was also disallowed. The assessee’s counsel ...