Investment : (21,41,824)
in Caraco Pharmaceutical Laboratories Ltd.
2. Reinstatement of FCCB : 27,66,11,029
3. Reinstatement of FCCB proceeds ... Reinstatement of loan to other subsidiaries out : (3,71,91,342)
of FCCB Proceeds -----------------
24,01,43,981
=========
7.1. At the outset
Investment : (21,41,824)
in Caraco Pharmaceutical Laboratories Ltd.
2. Reinstatement of FCCB : 27,66,11,029
3. Reinstatement of FCCB proceeds ... Reinstatement of loan to other subsidiaries out : (3,71,91,342)
of FCCB Proceeds -----------------
24,01,43,981
=========
7.1. At the outset
Investment : (21,41,824)
in Caraco Pharmaceutical Laboratories Ltd.
2. Reinstatement of FCCB : 27,66,11,029
3. Reinstatement of FCCB proceeds ... Reinstatement of loan to other subsidiaries out : (3,71,91,342)
of FCCB Proceeds -----------------
24,01,43,981
=========
7.1. At the outset
Investment : (21,41,824)
in Caraco Pharmaceutical Laboratories Ltd.
2. Reinstatement of FCCB : 27,66,11,029
3. Reinstatement of FCCB proceeds ... Reinstatement of loan to other subsidiaries out : (3,71,91,342)
of FCCB Proceeds -----------------
24,01,43,981
=========
7.1. At the outset
Investment : (21,41,824)
in Caraco Pharmaceutical Laboratories Ltd.
2. Reinstatement of FCCB : 27,66,11,029
3. Reinstatement of FCCB proceeds ... Reinstatement of loan to other subsidiaries out : (3,71,91,342)
of FCCB Proceeds -----------------
24,01,43,981
=========
7.1. At the outset
information from them relating to their foreign
currency transactions relating to the FCCB/GDR issues
which they promptly provided vide their letter dated ... foreign exchange as
well as the information about raising the GDR and FCCB
were all reported in their annual financial statements
7
ST/40458/2014
funds equivalent to US $ 300 million by
issuing Foreign Currency Convertible Bonds (FCCB), vide circular dated
12.10.2006. The report was received from Directorate of Intelligence ... based on investigation carried out by SEBI,
wherein it was found that FCCB money of ADA group companies including the
assessee had been used
towards
"Foreign Currency Convertible Bonds(FCCB)" issue expenses debited
to Securities Premium account, while computing the total income. As
per the Notes ... Account at Sl.No.8, the company issued FCCB's of
Face value of US $1,000 each with an option to the bondholder
1248/Hyd/2014 - A.Ys 2007-08 & 2008-09
Common Issues - FCCB & Debenture Issue expenses:
2. The common ground of appeal raised ... erred in allowing expenditure on FCCB and
debenture issue u/s 35D considering the expenditure as public
issue".
"3.The CIT(A) erred
assessee had borrowed funds by issuing Foreign Currency Convertible
Bonds (FCCB) during the financial year 2012-13. The same was issued at a
premium ... Assessing Officer noticed that, as per the agreement entered for
receiving FCCB, the assessee would be liable to bear withholding tax only in
excess
