2018 (12) TMI 1757

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....vind, Advocate For The Respondent. JUDGMENT Mr. Ravi Malimath The appellant is a non-banking financial institution carrying on the business of accepting deposits from members and lending the same to other members. On account of huge losses, a Scheme of compromise arid arrangement was proposed under Section 391 of the Companies Act before this Court for Assessment Year 2003-04. Under these ex....

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....Assessment Years 2003-04 arid 2004-05 respectively of the sister concerned of the assessee dismissed the appeal. Hence, the present appeal. 2. This appeal was admitted to consider the substantiai auestions of law raised in Income Tax Appeal Nos.794 and 795 of 2008. 3. By the order dated 7-10-2014, the said appeals were held in favour of the assessee and against the Revenue. Against the said or....