April 2014

Sec. 2(22)

Allahabad H.C : The two lending companies who have advanced interest bearing loan to the appellant have done so not in the ordinary course of its business, by completely overlooking that the lending of money has been specifically mentioned in the memorandum of association of both the companies in the objects which are ancillary to carry out the main objects of the company

High Court Of Allahabad Kishori Lal Agrawal vs. CIT Assessment Year : 2007-08 Section : 2(22) Dr. Dhananjaya Yeshwant Chandrachud

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