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Case Law Details

Case Name : ACIT Vs Punj Lloyd Ltd. (ITAT Delhi)
Related Assessment Year : 2015-16
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ACIT Vs Punj Lloyd Ltd. (ITAT Delhi)

No requirement of law that the assessee should establish nexus between interest free funds and investment which yields exempt income

On perusal of Balance Sheet, AO found that the assessee company made investments in unquoted trade instruments in the shares of subsidiaries, joint ventures and SPVs. The investment included shares of domestic subsidiaries as well as overseas subsidiaries of the assessee company.   AO required the assesse

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Author Bio

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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