2018 (12) TMI 1758

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..... JUDGMENT 1. The assessee is a non-banking financial Company carrying on the business of accepting deposits from members and lending the same to other members. For the Assessment Years 2007-08 and 2008-09, it filed returns of income declaring a net loss of Rs. 1,06,53,753/- and Nil income respectively. The returns were processed under Section 143(1) of the Income Tax Act, 1961, (for short, the....