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No section 68 addition for Loan Received and repaid vide cheque
Case Law Details
- Case Name
- Manibhadra Securities Services P.Ltd Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Ahmedabad
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Manibhadra Securities Services P.Ltd Vs ITO (ITAT Ahmedabad)
he assessee in the present case is a private limited company and engaged in the business of trading of Shares and Securities. The assessee in the year under consideration has received the Loan to the tune of Rs. 4,08,01,000/-from M/s Ken Securities Limited. The assessee has repay the loan to the tune of Rs.3,02,96,000/- and in the books of account has shown the outstanding loans amounting to Rs. 1,05,05,000/- under the head unsecured loans. The assessee has adjusted the repayment of loan by earlier advance amounting ...
