BALGOPAL MERCHANTS PVT LTD. vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA
Accordingly, the appeal fails and is dismissed
ITAT/232/2023HC Calcutta13 May 2024
Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
Section 131Section 143(1)Section 143(2)Section 260A
dividend was declared on the
shares. Any person, who would invest
money or give loan would certainly seek
return or income as consideration. These
facts are not adverted to and as noticed
below are true and correct. They are
undoubtedly relevant and material facts
for ascertaining creditworthiness and
genuineness of the transactions.
19. The doctrine of “Source of Source
