Housing & Urban Development … vs The Dy. Commissioner Of Income Tax on 21 July, 2016

1. The common question framed in both these appeals filed by Housing
and Urban Development Corporation Ltd. (HUDCO) against the orders

ITA 348/2003 & ITA 247/2004 Page 1 of 7
dated 17th March, 2003 and 8th January, 2004 of the Income Tax Appellate
Tribunal (ITAT) for Assessment Years 1994-95 and 1995-96 respectively
reads as under:
“Whether the appellate Tribunal has substantially erred in law
and in the facts of the case, in holding that the Assesseā€Ÿs
deposits with SAIL amounted to loan and/or advance within
the meaning of Section 2(7) of the Interest Act as amended
with effect from 1st October, 1991.”

Source: Indian Kanoon

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