2014 (5) TMI 200

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..... ch a conclusion that the amount of Rs.5,46,00,000/was a loan given by the Trust to this Private Limited Company - it was an advance so as to enable the Trust to acquire an asset - in the event the construction is not ready and complete and the building is not ready, the amount would be returned back to the Trust – no substantial question of law arises for consideration – Decided against Revenue. .....

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..... the Trust. There is a resolution placed on record. There is also a letter on record dated 5th March 2000 which is addressed to M/s.Beautiful Realtors Pvt Ltd. It may be that one of the trustees is associated with this Private Limited Company, but in the given facts and circumstances, the conclusion arrived at concurrently that there was no material on record, or that the transaction is nothing bu .....

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