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2009 (4) TMI 25 - BOMBAY HIGH COURTTax Recovery Officer in his order noted that Shri Subhash Arora as a Director of M/s.Subhash Arora Investment P. Ltd., has taken the loan of Rs.1.25 crores from Amit Jhaveri. Shri Subhash Arora is also a Director of the petitioner company – Petitioner company stood as a guarantor of Amit Jhaveri and M/s Subhash Arora Investment Pvt. Ltd. – Recovery of tax from petitioner company upheld
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