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Showing contexts for: megacity developer in Sheela Pattikonda Vishnukumar , ... vs The Income Tax Officer Ward-2 , Bellari on 14 August, 2020Matching Fragments
9. Ld.AO accordingly issued notice under section 133 (6) calling for the details of Ledger accounts along with reasons for issue of amount and mode of payment made to assessee. From annual account of VKL Resort India Pvt Ltd it was observed from Ministry of corporate affairs by Ld.AO that no advances was paid by them to assessee. The same was intimated to assessee by Ld.AO.
10. Representative of assessee appeared before Ld.AO and submitted that, since assessee is not related party to be VKL Resorts India Pvt Ltd., the amount is not appearing in balance sheet. Further, it was also submitted that, source of purchase of land is from Megacity Developers Pvt.Ltd., and her spouse, however no details were furnished by assessee in regards to the same.