The Commissioner of Income Tax And Another Versus M/s Suresh Chand Neeraj Kumr, Shyam Nagar, Kheria More, Agra - Income Tax - ALLAHABAD HIGH COURT - HC - Loan from parties - amount taken by the partners for investment in the firm - Held that - All the loans were old and only transfer entries were made during the year under consideration - The ITAT has righlty observed that the amount brought by the partners of the assessee firm in the capital account is to be assessed in their individual hands o................................... Income Tax - Case Laws
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