Case Law Details
Case Name : Bombay Rayon Holdings Ltd. Vs ITO (ITAT Mumbai)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Bombay Rayon Holdings Ltd. Vs ITO (ITAT Mumbai)
Another issue in this regard for A.Y.2010-11 onwards is that the loan has been converted into share application money. In this regard, the ld. Counsel of the assessee has placed reliance upon several case laws that share application money is shareholder fund and no interest should be attributable to the same. In the present case, we find that authorities below have given a clear finding that the plea that so called share application money which is said to be given for strategic
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.