2002 (7) TMI 16

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..... investment and stated that "there is no possibility of getting any amount against the investment in the shares of the company". - Once one accepts the findings on fact of the Tribunal that the shares were not treated as stock-in-trade by the corporation but as investments in the said companies, the argument of writing off made by the assessee cannot be sustained on any point of law, nor on any par .....

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..... written off like writing off bad debts. The Tribunal turned down the said argument stating that these investments by the financial corporation were not loans and the Tribunal further mentioned that the Corporation never treated the shares as stock-in-trade. The Tribunal also remarked that if the shares are sold at a lesser value than the acquiring value, as and when that might be done, the as .....

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