2018 (12) TMI 1758

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..... t. JUDGMENT 1. The assessee is a non-banking financial Company carrying on the business of accepting deposits from members and lending the same to other members. For the Assessment Years 2007-08 and 2008-09, it filed returns of income declaring a net loss of Rs. 1,06,53,753/- and Nil income respectively. The returns were processed under Section 143(1) of the Income Tax Act, 1961, (for short, th .....

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..... se appeals. 2. By the order dated 6-1-2014, the appeals were admitted to consider the substantial questions of law raised in connected appeals in Income Tax Appeal Nos.794 of 2008, 795 of 2008 and 99 of 2009. 3. Income Tax Appeal No.99 of 2009 was disposed off by the order of even date on the same ground. 4. Hence, following the judgment in Income Tax Appeal No.99 of 2009 of this Court, the sub .....

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