22 March 2010
if Co.ABC has invested Rs.75lakh on May,09 as a debenture application money in it's group company, and has received back from them on Jan,2010. (i.e. during the year it self) The ABC co. has shown this transaction as Investment in it's Books of accounts. and no income is generated on this investment.
query: whether above transaction covered under sec.372A i.e inter corporate deposit or in any other section of co. act?
since as per my judgment it is just manipulation of accounts.
CAclubindia
