assessee
company i.e. delay in getting foreign Inward Remittance
Certificate (FIRC) from the Bank, the assessee company
could not file requisite forms ... date of remittance. However,
in some of the cases we were getting FIRC's on time there
Dcit Cir 3(3)(2), Mumbai vs Tulip Hotels P.Ltd, Mumbai on 14 March
Copies of bank statement of the appellant
company
v.Copies of FIRC issued by RBI in the case
of NR investors
vi.Copies of letter ... Copy of FC-GRP submitted to RBI
ii. Copy of FIRC received from the IDBI Bank
iii. Copy RBI letter allotting
directly received on 26th Dec., 2000 by M/s ABCL as per FIRC dt. 13th Feb., 2001 from Hongkong & Shanghai Banking Corporation ... India on behalf of the appellant on 26th Dec., 2000 as per FIRC, dt. 13th Feb., 2001 from Hongkong & Shanghai Banking Corporation Ltd., which
evidenced by the following:
a Copies of Foreign Inward Remittance Certificate (FIRCs)
issued by its Authorized Dealer Bank,pursuant to monies
received from Cleartrip ... Reserve Bank of
India
d. Copies of Foreign Inward Remittance Certificate (FIRCs')
issued by the Authorized Dealer Bank, pursuant to monies
received from Cleartrip
India (RBI) for bringing funds from abroad, Foreign Inward
Remittance Certificate (FIRC) etc, copy of audited financial statements of
OMIL wherein the investment made ... Mauritius RBI in connection
Investment Ltd. with FCGPR
(Share Application
money
2. FIRC issued by 240-245
IDBI in the case of
NR investors
form of FCGPR
(b.3.) Foreign Inward Remittance Certificate (FIRC)
[placed at Pg 72 to 85 of paper-book]
(c) Vide letter filed ... submitted name &
address of the non-resident investor, copy of FIRCs, FCGPR filed
with RBI and valuation report to support issuance of shares
learned assessing
officer in the form of Foreign Inward Remittance
Certificate (FIRC), the correspondence with the Reserve
Bank of India and submitted that investment ... Copy of Share certificate;
• Copy of complete reporting made to RBI for
FIRC, UIN No. and FCGPR report inter-alia
containing entire banking transaction details
assessee. The assessee in response submitted that they
have submitted the FIRC certificate and it shows that funds have been ... merit learned CIT(A) accepted the assessee's
contention that FIRC certificate is sufficient and section 68 in such
circumstances will not be applicable
assessee has filed only the details like Foreign Inward
Remittance Certificate (FIRC) to prove the identity, capacity, genuineness
of transaction but according to AO merely ... filing of FIRC did not prove the
capacity of the lender to pay. According to AO, the assessee has not filed
the copy of balance
