that
since the assessee had diverted its borrowed funds to a sister concern
without charging any interest, proportionate interest relating to the said
amount ... purpose for which the amount had been advanced to its sister concern
without charging any interest and there was no material on record to show
account of interest on interest free advances given to the sister concern for non-business purpose ?
(ii) Whether on the facts and circumstances ... interest free advances made by the assessee to its sister concerns for nonbusiness purposes and treating the receipt of sales tax subsidy by the assessee
August/September 1991, appellant assessee granted
interest free advances to its sister concerns which were
disallowed by the Department on the ground that the said ... this stage, that the
interest free advance given to the sister concern was repaid on
year to year basis. The said advance/loan got finally
compensation for wrongful allocation of
electricity by the EPL to its sister concern, Essar Steel Ltd. (ESL) in
preference to the appellant.
4. According ... utilized
the capacity of the generating station in favour of its sister concern,
against the rights and interest of the appellant in violation
Shree Siddhivinayak Developers Ltd. and ATCO
Securities and Finance Ltd. (sister concern of the appellant – now
known as Kimaya Wellness Ltd.) (hereinafter referred ... appellant’s sister concern’) pursuant to which appellant’s sister
concern was granted development and marketing rights
containers and printers, had been advancing interest-free loans to its sister concern, namely, Pant Nagar Soya Milk Products Pvt. Ltd. (PNSMPL), since the assessment ... disallowed because of interest-free loans advanced to the sister concern. Pant Nagar Soya Milk Products Pvt. Ltd., free of interest ?
(c) Whether the order
debit balance on the date on which the loans to the sister concerns were given by it and therefore the decision ... printers. This firm was advancing interest free loans to its sister concern, namely, P, since the assessment year 1984-85. At the same time
stated in the petition that Focus Trading
Company Ltd., a sister concern of the petitioner company advanced an
amount of US $ 450,000 on behalf ... investment on 18.02.2004. Thereafter on
29.07.2004, it is stated that another sister concern of the petitioner,
namely, AMJ Marketing paid to respondent
interest disallowed on loan given by the assessee to its sister concern for non-business purposes?
2. Whether on facts and circumstances of the case ... being the amount of interest on the loan to sister concern, namely M/s. Rampu International Private Limited, Calcutta
that it was incurred partly for the business of the sister
concerns of the assessee, i.e., its contract manufacturer M/s. Kamakhya
Cosmetics ... siphon off part of the
assessee's profits to its sister concern and JVs. The assessing officer allowed
`.30 lakhs as directors' remuneration
