COMMISSIONER OF INCOME TAX vs. M/S PRASIDH LEASING LTD.
No AI summary yet for this case.
IN THE HIGH COURT OF DELHI AT NEW DELHI . 01.11.2004 . Present: Mr Sanjiv Khanna with Mr Ajay Jha for the appellant. . + ITA.No. 637/2004 * Admit. The following two questions of law are required to be determined by this court: ‘‘1.Whether the Tribunal was right in holding that the advance of a sum of Rs.6.16 crores made by M/s Ginza Industries Ltd. to the assessee cannot be taxed as deemed dividend without returning a finding that the lending of money was the substantial part of the business of the said company (M/s Ginza Industries Ltd)? .
Whether the Tribunal was right in holding that the Assessing Officer had wrongly made disallowance of Rs.43.50 paid by the assessee to M/s Adani Associates towards guarantee commission fee? 2. The paper books be filed by the appellant within a period of three months as per rules. . CHIEF JUSTICE . . BADAR DURREZ AHMED, J November 01, 2004 M