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Loan of Rs18 lakhs given from my gst proprietorship firm

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(Querist)
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?
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ARUN GUPTA

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

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CA R SEETHARAMAN (Expert)
12 April 2024 File case in court of law.



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ARUN GUPTA

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ARUN GUPTA (Querist)
12 April 2024 Will income tax department take any action?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 April 2024 Income tax department will not take any action.
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ARUN GUPTA

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ARUN GUPTA (Querist)
12 April 2024 I have shown bad debts but party have shown payment to other person.so income tax may make case for concealment of income.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 April 2024 Income tax will not deal in such cases.

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