Loan of Rs18 lakhs given from my gst proprietorship firm

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This query is : Resolved

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A proprietor lent Rs 18 lakhs from their GST firm to an individual, who has since repaid Rs 6 lakhs but is now denying the loan and the remaining balance. Despite all transactions being via banking channels, the borrower claims payment was made to a third party. The proprietor is seeking advice on how to recover the outstanding amount, questioning the role of the Income Tax department and considering legal action.

ARUN GUPTA

ARUN GUPTA (Querist)
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11 April 2024 I have given a loan of Rs1800000/ from my proprietorship firm to a individual and he returned back me Rs600000/ in may 2023.Now he is not returning balance money to me and denying me receipt of any money although all transactions are done through banking channels. How can I recover my money by informing income tax authorities? Please advise?

ARUN GUPTA

ARUN GUPTA (Querist)
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11 April 2024 Pl provide me a solution for this as party have shown payment to me by making payment to some other party.