M/S HOTHUR TRADERS ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY
In the result, the appeal by the assessee is dismissed
ITA 541/BANG/2019[2011-12]Status: DisposedITAT Bangalore25 Mar 2021AY 2011-12
Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2011-12 M/S. Hothur Traders, Vs. The Assistant Commissioner Plot Nos. 5, 6, 7 & 8, Of Income Tax, “Hothur House”, Infantry Road, Circle 1, Cantonment, Fort Road, Bellary – 583 104. Bellary – 583 102. Pan: Aaefh 7705H Appellant Respondent
For Appellant: Shri Shiva Prasad Reddy, IRSFor Respondent: Shri Kannan Narayanan, Jt.CIT(DR)(ITAT), Bengaluru
Section 10BSection 143(1)Section 143(3)Section 147Section 148Section 41(1)
…. The Tribunal has rightly applied the said judgments wherein the view taken is the same as taken by this Court in Logitronics (P.) Ltd. [2011] 333 ITR 386 (Delhi). 2.1 In so far as the decision in Jindal Equipment Leasing & Consultancy Services Ltd. [2010] 325 ITR 87 (Delhi) is concerned, that was a case where the assessee was an investment company registered with the Reserve Bank of India as a Non Banking Financial Company (NBFC). In the return for the assessment year 2003-04, it had shown a loan of Rs. 6,80,31,189 payable to M/s Jindal Steel & Power Ltd. (JSPL). It is the JSPL which had return of a sum of Rs…
