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TMI Blog2014 (9) TMI 546X X X X Extracts X X X X X X X X Extracts X X X X ..... s and interest on such advances was disallowed – it has been decided in assessee’s own case for the earlier assessment year’s also, thus, the order of the Tribunal is upheld – Decided against revenue. - Income Tax Appeal No. 661 of 2012 - - - Dated:- 13-8-2014 - S. C. Dharmadhikari And B. P. Colabawalla,JJ. For the Appellant : Mr. Suresh Kumar ORDER PC. 1. We have heard Mr Sur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 36(1)(iii) of the IT Act 1961 in respect of the interest free advance made by the assessee to other company ? 4. With regard to the first question (A) above, Mr Suresh Kumar fairly refers to the order passed on 12th January 2012 in Income Tax Appeal (L) No.1459 of 2011 by a Division Bench of this Court. In view thereof and even otherwise this question cannot be termed as substantial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he judgment of the Hon'ble Supreme Court in M/s S.A. Builders Ltd. (supra), but has held that the record indicates that the facts are not in dispute. The Assessee had advanced loans to the group concerns and interest on such advances was disallowed. It was disallowed in the Assessee's own case for A.Y. 1998-99, 1999-2000 and 2001-02. The same issue cropped up before the Tribunal for A.Y. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apparent on the face of the record. The question of law therefore cannot be termed as substantial. We see no merit in the contention of Mr Suresh Kumar that because the Supreme Court is reconsidering its earlier view and decision, that itself is a substantial question of law. We have not only relied on the principle of law laid down in M/s S.A. Builders Ltd.' case but the same having been app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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