ITO, NEW DELHI vs. M/S GANPATI HYDRO POWER PVT. LTD.,, NEW DELHI

In the result the ground No

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

section 269 SS and 269T in respect of the parties where by mutual agreement the "Debtors" have been converted as "Loan and Advance", "creditors for goods" have been treated as "unsecured loan" as it is a case of taking or accepting loans and deposits otherwise than by an account payee cheques / bank drafts. The AO in his order vide para

MOHD GULZAR,DELHI vs. ITO, WARD 63(5), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)