MOHAN BHAGWATPRASAD AGRAWAL,AHMEDABAD vs. DCIT, CIRCLE-4(2), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shrio. P. Meena & Mrs. Madumita Roy

section 2(22) (e) of the Act are applicable as the assessee has received loans and advances from the aforesaid companies. The assessee has taken loan from SDIPL amounting to Rs. 6,76,65,000/- during the year under Mohan BhagwatprasadAgrawal vs. DCIT-4(2) /I.T.A. No. 29/AHD/2019/A.Y.15-16 Page 3 of 20 consideration, the accumulated profit of the said company

PASL WINDTECH PVT.LTD.,,AHMEDABAD vs. ITO, WARD-3(1)(2),, AHMEDABAD

In the result, appeal filed by the Assessee is allowed