2001 (2) TMI 117 - HC - Income Tax

Extract:
.......e Companies Act by A. Ramaiya, fourteenth edition). Similarly, profits or losses on such investments are also required to be disclosed. (see clause 3(xii)(a) of Part II of Schedule VI to the Companies Act). In the circumstances, the question is answered in the affirmative, i.e., in favour of the Department and against the assessee. C. C. expedited.