worth of
the company (whose shares were sold) had eroded, without having regard ... stated that since the
entire capital of the Indian Group Company had eroded, the value of shares was
taken as NIL and a token consideration
financial difficulties faced by the company. Company's
net worth was eroded and registered with BIFR and due to such
adverse condition Bankers ... adverse market condition and financial difficulties, the
company's net worth eroded and it was registered with BIFR. The
fact that the company
Supplier Site Name Capacity No. Of Date Of
Machine Commissioning
Enercon TN-Erode, Dharapuram 800 KW 1 19/9/2005
Vestas KAR - Davangiri, Harihar ... profits of Wind Mill
(Enercon) Erode, Dhampuram-TN (Sept 2005). This is the 2nd year of the
claim of deduction under section 80IA . The assessee
also incurring losses. Hence, its capital and reserves had been
completely eroded. In order to prevent further losses for the
company and instead of contributing ... since
even the capital of the Joint venture was eroded.
8.3. The ld. AO has alleged that the assessee has not furnished
any tenable reason
pleaded that the net worth of M/s SOIL
had completely eroded due to huge loss incurred for the year ended
31.3.1999 and that ... Special Provisions) Act, 1985 . The net worth of M/s SOIL
being eroded is quite evident from the balance sheet of M/s SOIL
Industries Ltd.' incurred huge losses and its entire net worth was
eroded. Further, BIFR declared Ibiza as sick industrial company and
therefore, the advances ... existing business. The said subsidiary incurred huge loss and
networth was eroded. Further, BIFR declared the said company as sick
industrial company and hence advances
contention that the sharp fall in valuation
of property threatened to erode small equity base of appellant
4 Kanaklaxmi Investment P Ltd
ITA 5877 ... director from left hand. The
company by virtue of this transaction eroded the complete
capital base of Rs. 5,01,000/- by incurring a loss
worth of Soverign Nariman was nearly eroded and
ultimately we have to book the loss for both for Share
application as well as outstanding. Share ... soverign Nariman
Broking Pvt. Ltd. went into loss and its capital was eroded.
The company's broking business was also not performing
Reliance Industries Limited, Mumbai vs Acit , Mumbai on 8 March, 2022
ITA Nos.1645 &
assessee replied that since the net worth of
the debtors was eroded because of huge losses, there was little
chance of recovery and, therefore
