TMI Blog2020 (1) TMI 657X X X X Extracts X X X X X X X X Extracts X X X X ..... edings, AO took notice of the fact that the assessee had obtained a loan of ₹ 7.30 Crore from one Manaksia Trexim Pvt. Ltd based at Calcutta. AO got the matter inquired through the Investigating Wing of the Calcutta, and the inquiry revealed that loan was in fact advanced. The source of the loan was also explained. Thus, it was confirmed that the assessee had received funds from Manaksia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il, 2019 in the IT(SS) No.24/Rjt/2017 for the A.Y.2009-10. 2. The Revenue has proposed the following questions, as the substantial questions of law, arising in the present appeal; (A) Whether the Appellate Tribunal has erred in law and on facts by upholding the decision of CIT(A) which deleted the addition of ₹ 7,93,94,849/- on account of unexplained Cash Credit u/s.68 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 377; 7.30 Crore from Manaksia Trexim Pvt. Ltd., Culcutta. He made detailed inquiries through investigation wing of Calcutta and concerned person of Manaksia Trexim Pvt. Ltd in short MTPL clearly stated that it had advanced loan to the appellant and source of the loan was also explained . And it was also submitted that creditor received funds from Manaksia Trexim Pvt. Ltd. its own group concerned a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 7.30 Crore from one Manaksia Trexim Pvt. Ltd based at Calcutta. The Assessing Officer got the matter inquired through the Investigating Wing of the Calcutta, and the inquiry revealed that loan was in fact advanced. The source of the loan was also explained. Thus, it was confirmed that the assessee had received funds from Manaksia Trexim Pvt. Ltd, one of its own groups. The Tribunal also not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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