Sending of submission of assessee to AO for remand report is enough to avoid contravention of rule 46A
Last updated: 27 November 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
During the year the assessee company had raised unsecured loans of ` 96,65,438/-, the source of which remains unverified in view of the facts that no details with regard to the same is available. Hence, the same are disallowed and added back to the income of the assessee company as cash credit from unexplained sources
Citation :
I.T.O., WARD 2(4), R.NO. 301, 3RD FLOOR, CENTRAL REVENUE BUILDING,NEW DELHI – 110 002 (Appellant) Vs.M/S BHAVYA LAKHANI TRADERS & SUPPLIERS (P) LTD., C/O M.C. JAIN & CO., 4701/21-A, ANSARI ROAD,DARYA GANJ, NEW DELHI - 110002 (PAN: AABCB9090R) (Respondent)
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CS Bijoy
Published in Income Tax
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