2017 (3) TMI 1551

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..... nue urges three questions of law: - (i) Whether the ITAT erred in deleting the addition of Rs. 15,25,685/- made by the Assessing Officer on account of 'interest paid to M/s IFCI Ltd.' ignoring the fact that the said expenditure is not allowable as deduction as per the explanation to section 37 (1) of the Income Tax Act, 1961? (ii) Whether the ITAT erred in deleting the addition of Rs. 70,44,02 .....

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..... r the assessee's business continued or not, did not in such circumstances, arise for consideration. Admit the appeal so far as the following question of law is concerned: - "Whether the ITAT erred in deleting the addition of Rs. 22,90,00,000/- made by the Assessing Officer on account of amount transferred to capital reserve ignoring the fact that the said amount was a revenue receipt in the hand .....

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