M/s IRIS Smart Card Pvt. Ltd. Versus Commissioner of Income-tax-II, Hyderabad - Income Tax - ITAT HYDERABAD - Tri - Application of section 41(1) of the Income tax act - Assessee has incurred losses and has obtained waiver of principle as well as interest - Assessee company received financial assistance of Rs. 598 lakhs under venture capital fund scheme comprising convertible rupee term loan of Rs. 480 lakhs and subscription of 100 lakhs to the equity share capital and 17.5 percent redeemable convertibl................................... Income Tax - Case Laws
↧