NBFCs with Reserve Bank of India (RB), stipulation of minimum net owned funds requirement, creation of reserve fund and transfer of certain percentage of profits
stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds ... concur with the submissions of Ld. AR that the assessee had
surplus net funds and disallowance need not be made in terms of decision
gain on investment and it cannot be allowed. Admittedly, in this case, net worth
of TVSF&S is negative. TVSF&S is incurring ... such losses, it is required to
strengthen the net owned funds position and increase the long term capital base for future
operations of the company
shape of shareholders' funds
for Rs.117764.99 Lacs and loan funds of Rs.231081.72 Lacs. All these
funds were utilized to acquire ... stated that the
assessee has surplus net owned funds in the year in which the
advances were given. The position of net owned funds
shape of shareholders' funds
for Rs.117764.99 Lacs and loan funds of Rs.231081.72 Lacs. All these
funds were utilized to acquire ... stated that the
assessee has surplus net owned funds in the year in which the
advances were given. The position of net owned funds
investments had business
nexus and also raised plea of sufficiency of own funds to make these
investments. The assessee also relied on the decision ... stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds
stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds ... concur with the submissions of Ld. AR that the assessee had
surplus net funds and disallowance need not be made in terms of decision
investments had business
nexus and also raised plea of sufficiency of own funds to make these
investments. The assessee also relied on the decision ... stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds
vide order dated 14.11.2011 by considering gross
7
interest expenditure instead of net interest expenditure as directed by
revisionary authority.
8.2 During appellate proceedings ... stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds
stated that the assessee has surplus net owned funds in the year in
which the advances were given. The position of net owned funds ... concur with the submissions of Ld. AR that the assessee had
surplus net funds and disallowance need not be made in terms of decision
