DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

271D of the Act, the revenue has to establish that what was received by the assessee, was a loan deposit within the meaning of section 269SS of the Act. Under Rule 2(b) or (ix) of the Rules, deposit does not include any amount received from a director, relative of director or member of a private limited company

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed