INCOME TAX OFFICER, PUNE vs. SAGAR CONSTRUCTION COMPANY, PUNE

In the result, the appeal filed by the Revenue is dismissed and the CO filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18

269T of the Act. The assessee in response to the same gave the details of 16 parties from whom it had taken loan through proper banking channel. The Assessing Officer thereafter asked the assessee to furnish the documentary evidence substantiating the said loans which have been arranged through Sri Sachin Nahar. From the reply submitted by the assessee, he noted