DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(1), HYDERABAD vs. DRS LOGISTICS PRIVATE LIMITED , SECUNDERABAD
In the result, the appeal of the Revenue is dismissed
ITA 1718/HYD/2018[2008-09]Status: DisposedITAT Hyderabad17 Oct 2023AY 2008-09
Bench: Shri R.K. Panda & Shri Laliet Kumar
For Appellant: Shri KC DevdasFor Respondent: Shri K. Madhusudan. Sr. AR
Section 133ASection 143(2)Section 143(3)Section 147Section 148
43B).
C) Observations :
v) It is observed that from the tax audit report, the assessee has granted loan to 21 parties and the max. amount involved during the year and the balance such loans aggregates to Rs.73,75,67,314/- and Rs.51,10,10,735/-.
However on verification of financial statements, it is noticed from the balance sheet that