Case Law Details
Brief of the case:
In the case of ACIT Vs. M/s. Maharashtra State Electricity Distribution Co. Ltd. ITAT adjudicated two appeals against the order of CIT (A) who allowed the appeal of assessee in part. Both revenue as well as assessee filed appeal against the order of CIT (A). During the year under consideration AO made various disallowances against the claim of assessee. Assessee is engaged in the production and supply of electricity in the state of Maharashtra. Aggrieved from the assessment order assessee filed appeal before CIT (A). During appellate proceedings CIT (A) also allowed additional evidence under rule 46 and sought remand report also.
Facts of the case:
- M/s. MSEB was engaged in the activity of generation, transmission and distribution of electricity in the State of Maharashtra. During the year, the MSEB was trifurcated into three new companies and each company took over one activity of MSEB.
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Respected Sir,
I would like to know the maximum limit of Loans received and Re-payment in CASH in one financial Year, whether it is 20000/- still from 1961 or any change in the limit of Loans in CASH, WITHIN ONE YEAR, BY OR TO SAME PERSON.
If any changes occurred please, what is changing in the limit,