M/S. Dalas Biotech Ltd. vs ACIT, Alwar

Parties Involved

Facts Summary

The case involves an appeal by M/S. Dalas Biotech Ltd. against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2010-11. The assessee challenged the addition of Rs. 52,00,000 under section 68 of the Income Tax Act, alleging that the loan was repaid in the subsequent assessment year. Additionally, the assessee contested the addition of Rs. 481,562 under section 40(a)(i) of the Act on commission paid to non-resident commission agents. The appeal was heard by the Income Tax Appellate Tribunal, Jaipur.…

Legal Issues

• 1. Addition of Rs. 52,00,000 under section 68 of the Act
• 2. Addition of Rs. 481,562 under section 40(a)(i) of the Act on commission paid to non-resident commission agents

Judgment Outcome

Decided in favour of Assessee.

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