Padmini to the detriment of the genuine investors.
1.9 The unusual financial accommodation provided by Padmini to the said Delhi and Kolktata based allottees indicated
that the 4 appellants were related to BPL, and there was financial accommodation between BPL and the 4 appellants which resulted them being related ... duty. It is his submission that BPL gave loans and gave financial accommodation to all the appellants while setting up the manufacturing units
assessee. If the assessee had advanced loan to give financial accommodation to a 3rd party, the interest earned on such advances was only a consequence ... assessee to M/s. Dhanraj Mills as a stray transaction of financial accommodation to a 3rd party was factually incorrect. The assessee was indeed
have any relationship with Ketan Parekh entities.
d) There was no financial accommodation for any unwritten understanding between Padmini and the allottees.
e) Powers under
considered view, while finance lease is a mode of financial accommodation, it is a step short of loan or advance'. A loan or advance
funds by a non-banking financial company or a class of non-banking financial companies or non-banking financial companies generally, as the case ... banking financial companies generally or to a class of non-banking financial companies or to any non-banking financial company in particular
with the company at all was allotted
preferential shares and given financial accommodation when he was
assured by SK on behalf of the company that
transaction of accommodation of bill which is in the nature of financial accommodation, therefore, estimation of unaccounted purchases of Rs. 5,07,19,567. Without ... transaction of accommodation of bill which is in the nature of financial accommodation, therefore, estimation of unaccounted purchases and profit is completely unjustified
credit at all and by taking credit, they had obtained financial accommodation for a period of time till the goods were cleared on payment
charging standard rent for the aforesaid accommodation. The standard rent, depending on the type of accommodation allotted to an employee, was calculated with reference ... Sections 201 and 2O1(1A) for the impugned financial year with respect to the accommodation provided to the employees at concessional rate