Case Law Details
Case Name : DCIT Vs Nandan Exim Ltd (ITAT Ahmedabad)
Related Assessment Year :
Courts :
All ITAT ITAT Ahmedabad
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CA Sandeep Kanoi
Issue and Facts of the Case- During the course of assessment proceedings, on perusing the balance sheet A.O. noticed that Assessee had investments of Rs. 6,23,03,240/- in the shares and securities of its group companies. He also noticed that Assessee had obtained interest bearing secured loans of Rs. 19.25 crores and unsecured loan of Rs. 81.29 crores and had paid interest and financial charges of Rs. 10.10 crores. A.O. was therefore of the view that interest bearing business fu
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