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TMI Blog2016 (6) TMI 1115X X X X Extracts X X X X X X X X Extracts X X X X ..... Mehta For the Opponent : B. S. Soparkar, Swati Soparkar JUDGMENT K. S. Jhaveri, J. 1. These appeals involve identical questions on law and were also ordered to be heard together vide order dated 17.09.2009 passed in Tax Appeal No.117/2009. Therefore, they are decided by this common judgment. 2. These appeals under Section 260A of the Income-tax Act, 1961 have been admitted in terms of the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide order dated 13.11.2003, against which the assessee as well as the Revenue preferred appeal before the Tribunal. Vide order dated 30.03.2005, the Tribunal set aside the order of CIT(A). 4. In compliance of the order, the assessment was completed on chargeable interest at Rs. 46,98,76,608/, against which the assessee had preferred appeal before the CIT(A). Vide order dated 02.08.2007, the CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it has been held that the expression 'advance' occurring in section 2(7) along with the expression 'loan' should take its colour from 'loan' and cannot be given wider interpretation to include deposit as well, otherwise, money deposits given for investments, etc., would also qualify as 'advances' and interest thereon would become exigible to the Interest-tax Act. Such a situation was never contem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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