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Money advanced to subsidiary company cannot be allowed as deduction on writing off the same
Case Law Details
- Case Name
- VST Industries Ltd. Vs. ACIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000- 2001
- Courts
- All ITAT, ITAT Hyderabad
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CASE LAWS DETAILS
DECIDED BY: ITAT, HYDERABAD BENCH `B’, HYDERABAD, IN THE CASE OF: VST Industries Ltd. Vs. ACIT, APPEAL NO: ITA No. 691/Hyd/2005, DECIDED ON July 23, 2010
ORDER
Per Chandra Poojari, Accountant Member:
This appeal by the assessee is directed against the order of the CIT(A) IV, Hyderabad dt.24-3-2005 for assessment year 2000-01.
2. The first ground raised by the assessee is that the CIT(A) erred in confirming the dis allowance of the claim of the assessee, as long term capital loss of Rs. 13,96,22,585, arising out of the sale of shares held by it in VST-NPL to M/s Global G...
