2001 (10) TMI 7

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..... 3 of 1999. - - - Dated:- 17-10-2001 - S. P. Bharucha, Y. K. Sabharwal And Brijesh Kumar JJ. For the Appellant : Soli J. Sorabji , Attorney-General of India ( Pritesh Kapur , B. V. B. Das and Ms. Sushma Suri , Advocates) For the Respondent : F. V. Irani , Senior Advocate ( S. Balakrishnan , Atul Y. Chitale and Mrs. Suchitra Atul Chitale , Advocates ORDER The notic .....

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..... evelopment Corporation Ltd. [1997] 225 ITR 792, was distinguishable. Whichever way we look at it, the object of the assessee was to increase its share capital; whether it did so to continue to do business after the Reserve Bank directive or otherwise, the case is covered by the judgment in the case of Punjab State Industrial Development Corporation Ltd. [1997] 225 ITR 792 (SC). The appeal is .....

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