ITA 148/2011 15-10-2012 Satish Kumar Aggarwal
During the year under consideration the company M/s. Satish Agg Private Limited enagged in lending of money lent money to partnership firm M/s Satish Agg & Co in which partners held more that 20% share. Held by ITAT Asr no addition can be made in hands of firm for money advanced by company to firm.
Cases relied upon:
Bhaumic Colour (Spl Bench of ITAT)
Hiltop (Rajasthan HC) 313 ITR 116
ITA No.331(Asr)/2009 dated 26.08.2009
During the year under consideration the company M/s. Satish Agg Private Limited enagged in lending of money lent money to partnership firm M/s Satish Agg & Co in which partners held more that 20% share. Held by ITAT Asr no addition can be made in hands of firm for money advanced by company to firm.
Cases relied upon:
Bhaumic Colour (Spl Bench of ITAT)
Hiltop (Rajasthan HC) 313 ITR 116
ITA No.331(Asr)/2009 dated 26.08.2009
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