This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
₹18 Crore Unsecured Loan & Purchase Addition Set Aside for Lack of Proper Inquiry
Case Law Details
- Case Name
- Uma Strips Limited Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Uma Strips Limited Vs ACIT (ITAT Delhi)
₹18 Cr Group Loans & Purchase Disallowance Sent Back: Delhi ITAT Grants Relief on Trade Creditors, Orders Fresh Probe
Delhi ITAT partly allowed the Assessee’s appeal, holding that additions on account of unsecured loans and purchase disallowance were made without proper examination and violation of natural justice, while deleting the addition of ₹1.13 crore towards trade creditors u/s 68.
The AO had made multiple additions:
(i) ₹17.99 crore u/s 68 treating unsecured loans from group entities as unexplained, relying on Investi...
Author Info
