DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

133(6) of the Act. Non-payment of interest thus could be no valid justification for making addition under the provisions of section 68 of the Act. In view of above facts and the assessee having satisfactorily discharged its onus by placing on record voluminous evidence, the learned CIT(A) has correctly appreciated the facts and evidence on record

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -1(2), NAGPUR vs. VIDARBHA INFOTECH PRIVATE LIMITED, NAGPUR