Sh. Shiv Pal Chaudhary, Chandigarh vs. DCIT, Chandigarh
In the result, the appeal of the assessee is partly
ITA 28/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh20 Apr 2018AY 2012-13
Bench: Ms.Diva Singh & Ms.Annapurna Guptash.Shiv Pal Chaudhary, Vs. The D.C.I.T., H.No.3121, Sector 28D, Circle Chandigarh. Chandigarh. Pan: Aakpc6883B (Appellant) (Respondent)
For Appellant: Shri Vineet Krishan, AdvFor Respondent: Shri Manjit Singh, Sr.DR
Section 201Section 40Section 43B
…received was in turn advanced by the assessee interest free.” 18. Our attention was also drawn to the decision of the ITAT Chandigarh Bench wherein the aforesaid proposition of the Hon'ble Jurisdictional High Court was followed: 1) Kisan Fats Ltd. Vs. DCIT, 162 ITD 404 (Chd) 2) M/s Stylam Industries Ltd. Vs. DCIT in ITA No.922/Chd/2017 dated 28.11.2017 19. The Ld. counsel for assessee thereafter pointed out that the assessee had submitted before the Ld.CIT(Appeals) that it had enough interest free funds in the form of interest free unsecured loans amounting to Rs.70,50,092/- taken from family members and c…
