Case Law Details
Case Name : Girraj Cold Storage Pvt. Ltd. Vs ITO (ITAT Agra)
Appeal Number : ITA No. 125/Agr/2022
Date of Judgement/Order : 06/12/2024
Related Assessment Year : 2011-12
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Girraj Cold Storage Pvt. Ltd. Vs ITO (ITAT Agra)
ITAT Agra held that addition towards interest paid on CC is liable to be deleted since interest free advance given to potato growers (farmers) were out of the business expediency. Accordingly, addition deleted and appeal allowed.
Facts- During reassessment proceedings, AO observed that the assessee has given interest free advances to the potato growers during the year under consideration of Rs.1,70,04,076/- ,whereas it has raised interest bearing loans from the bank and interest paid on such loan has been debi
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.