company to its subsidiary company, if the holding company or its nominee hold whole of the share capital of the subsidiary ... company and the subsidiary company is an Indian company, shall deemed to be the cost for which the holding company acquired the said capital asset
made by the AO on account of interest on investments in subsidiary companies.
5. The learned CIT(A) has also erred in reducing the disallowance ... subsidiary companies have further used this investment to give loans to various companies. The said credit companies are also the subsidiary companies of the assessee
charge any interest on
the loans given to its subsidiary companies namely Kumar City Club Ltd. and
L.K Developers Pvt. Ltd., the details ... Officer on account of diversion of
borrowed funds in its two subsidiary companies namely L.K. Developers Pvt.
Ltd. and Pune Technopolis Development
shown as the holding company and Detergents India Ltd. and Calcutta Chemical Company as its subsidiaries. Majority of the shares of Detergents India ... three companies are transferred from one company to the other and that officers of the holding company conducted the internal audit of the subsidiary companies
borrowed money to a subsidiary and the same is used by the subsidiary for some
business purposes, the holding company would ordinarily be entitled todeduction ... Parks Pvt. Ltd. Subsidiary 2,41,00,000/-
BIP Developers Private ltd. Subsidiary 3,20,00,000/-
Boulevard Services Pvt. Ltd. Subsidiary
respect of interest-free loans given by the assessee to its subsidiary companies & others. The proportionate disallowance is Rs. 41,722 for assessment year ... assessee did not charge or take any interest from its subsidiary companies and various other parties to whom it advanced substantial loans/ advances; whereas
cent shares in the 1st respondent-company (the company). The Company has 38 subsidiaries. Some of the subsidiaries are, in turn, holding companies of other ... that the company is a family company having only 12 shareholders. Even though this company has a large number of subsidiaries, in fact, they
subsidiary of the Company. CIHL is also a
Holding Company for 26 other companies. Consequently, all
these Companies have become subsidiaries of Your Company ... stake and wholly
owned subsidiary on December 29, 2006. All other above
mentioned subsidiaries are direct or indirect wholly owned
subsidiaries of CIHL. Accordingly, these
would be denied to the transferor-
company if the other company ceases to be wholly owned
subsidiary within 8 years it was necessary to enact ... denied to the transferor-company, if the other
company ceases to be a wholly owned subsidiary within eight
years from the date of the transfer
another subsidiary company was made to liquidate or merge the NIL companies into one of
the subsidiary company to scale down the no. of subsidiary ... directors of those companies/purchaser companies. As far as share sale to related
entities/other subsidiaries there is no point to sell at above face
