MESSRS DREAMLAND TRAVEL SERVICES (PVT.) LTD. versus DEPUTY COMMISSIONER OF INCOME TAX/WEALTH TAX
Section 12 (18) money is not claimed as debt, as the demand for money such as the income of Estim Scope cannot be increased nor can it be added in the absence of the assessee's claim. Nor can the defense taken by any reviewer be dismissed. The fact is that such money was injected into the business and was used as capital, circulation or otherwise. In other words, the Assisi's explanation cannot be smashed only by the decision that the alleged amount introduced in the Assisi was actually used in the business, therefore, it was taken to meet the Assisi's requirements. The loan can be considered.
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