ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- 3, SRINAGAR vs. MEASAGE SAIFCO CEEMENTS PRIVATE LIMITED, SRINAGAR
In the result, the appeal of the Department and CO of the Assesse is 23
ITA 451/ASR/2019[2013-14]Status: DisposedITAT Amritsar23 Aug 2023AY 2013-14
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
For Appellant: NoneFor Respondent: Sh. Rajiv Wadhera, Sr. DR
Section 143(3)Section 36Section 36(1)(iii)
10. We have heard the rival contentions, perused the material on record,
impugned order, written submission and case law cited before us.
Admittedly, the assessee company has advanced interest free loans to its
sister concern namely M/s Safico Hillcrests Hotels Pvt Ltd. and at the same
time, the assessee company has borrowed interest bearing loans, both
secured and unsecured. Keeping
