MFAR HOLDINGS PVT. LIMITED,BANGALORE vs. PR. CIT, BANGALORE
In the result, appeal of the assessee is dismissed
ITA 634/BANG/2015[2010-11]Status: DisposedITAT Bangalore14 Aug 2015AY 2010-11
Bench: Shri. N. V. Vasudevan & Shri. Abraham P. George
For Appellant: Shri. Cherian K Baby, CAFor Respondent: Shri. Sunil Kumar Agarwala, JCIT
Section 143(3)Section 14ASection 263Section 269Section 271DSection 45(2)
transferred any of its capital asset to stock-in-trade during the relevant previous year. As per the Pr. CIT, such claim of business loss was to be disallowed. Second point raised in such show cause notice was that assessee had received cash loans of Rs.1,02,83,336/- and paid back Rs.2,85,57,209/- otherwise than by account
