9911796707
TMI Blog2013 (9) TMI 746X X X X Extracts X X X X X X X X Extracts X X X X ..... application money, reserve and surplus other than borrowed money, affirmed the findings of the Income Tax Appellate Tribunal that the assessee company had sufficient funds other than borrowed money for giving to its sister concern and that the conditions of Section 36 (1) (iii) of the Act have been complied with. The assessee-company was entitled to full allowance of the amount of interest paid b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mar, D. Awasthi, G. Krishna, R. K. Upadhaya, S. Chopra ORDER Heard Shri Rupesh Jain assisted by Shri R.S. Agrawal for the appellant-assessee. Shri Shambhu Chopra appears for the revenue. This Income Tax Appeal filed under Section 260-A of the Income Tax Act arises from an order of Income Tax Appellate Tribunal, Delhi Bench "D", New Delhi dated 30.10.2001 in respect of assessment year 1991 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estions were decided by this Court in CIT vs. Radico Khaitan Ltd on September 14, 2004 reported in 2005 (274) ITR 354. On question No. (i); as to whether the Tribunal should have held that the disallowance of interest to sister concern M/s Rampur International (P) amounting to Rs.3,60,990/- was liable to be restored and the CIT (A) order was liable to be set aside, this Court, after going throug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest in distillery unit, fertilizer unit and biogas unit as income from other sources. This Court held in the earlier judgment, while deciding the same question as question no.4, that the assessee-company had received interest on the deposits/advances made by it to its debtors. The amount of interest was not relatable to any late payment of the invoices/bills or compensation/damages, and thus ..... X X X X Extracts X X X X X X X X Extracts X X X X
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