19 January 2022
SIR, It assessee small business turnover rs: 30 lacs yearly. if assessee gold loan from banks rs:8 lacs own name rs:14 lacs loan wife name received and rs:10 lacs amount cash loan paid to relatives and friends. Question: 1.Assessee sales turnover is low and Gold loans from banks rs:14+8= 22 lacs show in balance sheet accepted in it act. 2.Interest collected from cash debtors accepted in it act.
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