DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. JAMES HOTELS LTD, CHANDIGARH
ITA 552/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh01 Oct 2024AY 2012-13
Bench: The Said Resolution To Enhance Authorized Share Capital.
For Appellant: Shri R.K. KapoorFor Respondent: Shri Rohit Sharma, CIT, DR
Section 143(2)Section 269SSection 271D
68 of the Income Tax Act which means that identity of the person, creditworthiness of the persons contributing the money and genuineness of the transactions has been duly accepted in the regular assessment proceedings.
8.2
It was submitted that the nature of transaction which was admittedly the share application money between the transacting parties cannot be reclassified as loan
