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

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 11 has given

SHIVANGI INTERNATIONAL,MEERUT vs. CIT, MEERUT

In the result, appeal of the assessee is allowed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishishivangi International, Vs. Cit, Meerut Cold Storage Building, Aayakar Bhawan, Delhi Road, Meerut Bhaisali Ground, Meerut Pan: Aadfs3912Q (Appellant) (Respondent)