Case Law Details
Case Name : Banpal Oilchem Pvt. Ltd. Vs ACIT (ITAT Ahmedabad)
Appeal Number : ITA No. 1225/Ahd/2016
Date of Judgement/Order : 31/01/2023
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Ahmedabad
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Banpal Oilchem Pvt. Ltd. Vs ACIT (ITAT Ahmedabad)
ITAT Ahmedabad held that loss on account of non-repayment of loan advanced to subsidiary company for the purpose of incorporation of business is an allowable business loss.
Facts- The assessee company is en
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