Matter remanded as evidence proving financial capability of partners for capital contribution produced

Sanmar Group Corporate Finance Vs Assessment Unit (Madras High Court) Madras High Court held that petitioner has placed on record sufficient evidence proving financial capability of partners for capital contribution. Accordingly, order set aside and matter remanded back for reconsideration. Facts- The petitioner is a partnership firm which has six partners. During assessment year 2022-2023, the petitioner asserts that capital contributions were received from four of those partners, namely, Mrs.Bhavani Kumar, Mathura Kumar Properties Private Limited, Serenity Trust and V S Trading and Consultan...