SH. DEVINDER KUMAR,LUDHIANA vs. ITO, W-VII(1), LUDHIANA
In the result, the appeal of the assessee is, therefore,
ITA 1270/CHANDI/2017[2011-12]Status: DisposedITAT Chandigarh30 May 2018AY 2011-12
Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Devinder Kumar, Vs. The Income Tax Officer, 14, Surya Vihar, Ward-Vii (1), Rishi Nagar, Ludhiana. Ludhiana. New Address: C/O M/S Shree Aum Hospital Aashiana Complex, Bari Brahmana, Jammu. (Jammu & Kashmir). Pan: Aenpk0344L (Appellant) (Respondent)
For Appellant: NoneFor Respondent: Ms. Deepika Mohan, JCIT
Section 143(1)Section 143(3)Section 14ASection 36(1)(iii)
charitable trusts and therefore no interest was charged.
Further opportunities were also given to the assessee
wherein he contended that the loans raised were for
business purpose only.
The Assessing
Officer after
considering the reply filed by the assessee, held that the
assessee had failed to establish the commercial expediency
for making the said loans and also that the loans
