Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 1254 - AT - Income TaxDisallowance of claim of interest payable - Held that:- The balance sheet and profit and loss account clearly shows that no person from Bagga Group is Director of M/ s. Intra Port India Ltd. Further a copy of Form No.29 submitted before the Registrar of Companies was also submitted which clearly indicates that Sri Satpal Singh Bagga, brother of the assessee was appointed as Director of the company only from 24th April, 2004, copies of which were enclosed. The payment of interest was made only after series of negotiations and was purely out of business activities. We find that a mistake has occurred which is apparent on record at Para No.102 of the Tribunal’s order in the case of Balwinder Singh Bagga and others dated 3.8.2012. Hence we recall the order of Tribunal [2012 (8) TMI 1114 - ITAT HYDERABAD] for limited purpose of hearing the issue in Para No.102 and direct the Registry to re-fix the hearing.
|