C.I.T. II JODHPUR vs. M/S JEEWAN RAM CHOUDHARY
ITA/185/2013HC Rajasthan17 Sept 2019
Bench: SANGEET LODHA,VINIT KUMAR MATHUR
For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD
18. Applying the above ratio to the facts of the present case,
we find that the assessee had never been an active participant of
ATL. Though the revival was contemplated within a limited span of
time, that did not happen, even though the net worth turned positive.
There was no attempt to exploit the commercial assets of the
company
