HERO CYCLES (P) LTD. vs. COMMISSIONER OF INCOME TAX (CENTRAL)

Appeal is allowed, thereby setting aside the order of the

Section 36(1)(iii) of the Income Tax Act (hereinafter referred to as 'Act'). The aforesaid deduction was disallowed by the Assessing Officer vide his Assesssment Order dated 26.03.1991 on the following two points: - (1) The assessee had advanced a sum of Rs.1,16,26,128/- to its subsidiary company known as M/s. Hero Fibers Limited and this advance

COMMISSIONER OF CENTRAL EXCISE, MYSORE vs. M/S. TVS MOTORS COMPANY LTD

10 1998 (101) ELT 198 (T) 11 1999 (078) ECR 342 (T) Civil Appeal Nos. 5155-5156 of 2007 & Ors. Page 16 of 27 Page 17 JUDGMENT the aforesaid cases were dismissed by this Court on 27.01.2000 with one line order without giving any reasons. He emphasized and insisted that the issue involved in the present case is more proximate