[aaykarbhavan] Sec. 14A disallowance deleted on presumption that investment was made out of owned funds available in near future

 

Sec. 14A disallowance deleted on presumption that investment was made out of owned funds available in near future

April 25, 2014[2014] 44 taxmann.com 179 (Mumbai - Trib.)

IT: Where assessee is able to show near proximity of availability of own funds, may be exactly not on date of investment or advancement of loan but in a very near future date or within a reasonable short period of time, even then presumption will be that investment was made by assessee from his own funds or in anticipation of availability of its own funds within a short period of time

Regards

Prarthana Jalan

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