KANDLA EXPORT CORPORATION,,GANDHIDHAM vs. THE DY. COMMR. OF INCOME TAX, CEN. CIR.-2(3),, AHMEDABAD
In the result, the summaries and concise ground No
ITA 155/RJT/2016[2012-13]Status: DisposedITAT Rajkot28 Feb 2025AY 2012-13
Bench: Dr. Arjun Lal Saini, Am.& Dinesh Mohan Sinha, Jm आयकरअपीलसं./It(Ss)A No.135/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2011-12) (Hybrid Hearing) The Deputy Commissioner Of Vs. Kandla Exports Corporation Income – Tax, Central Circle – 2(3), Plot No. 18, Maitri Bhavan, 3Rd Floor, A – 305, Aayakar Bhavan, Sector – 8, Gandhidham, Ahmedabad – 370201 Kutch- 370201 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfk1906F (Assessee) (Respondent) आयकरअपीलसं./It(Ss)A No.136/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2012-13) (Hybrid Hearing) The Deputy Commissioner Of Kandla Exports Corporation Vs Income – Tax, Central Circle – Plot No. 18, Maitri Bhavan, . 2(3), 3Rd Floor, A – 305, Aayakar Sector – 8, Gandhidham, Bhavan, Ahmedabad - 370201 Kutch- 370201 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfk1906F (Assessee) (Respondent)
property, the assessee has submitted the details of stock in trade and sundry debtors
(export) aggregating to Rs.32.55 Crores and interest-free funds of Rs.28.34
Crores, during the year. Thus, it is clear that the capital borrowed for the purpose of business has been apparently used for the purpose of business. The assessing officer has disregarded huge interest-free funds
