RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA
In the result, appeal filed by the assessee is allowed for statistical purposes
ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 143Section 144BSection 68
TDS on the interest amount. During the year under consideration, the assessee has neither purchased any capital asset nor undertook any big expenditure, like marriage, house construction or foreign trips. The borrowed funds were utilized in Khandelwal Jewelers Akola Private Limited, as the jewelry is a very capital-intensive business and the business man has to invest a majority
