1989 (9) TMI 32

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..... lowing two questions of law to this court : "(1) Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal is justified in law in deleting the additions of Rs. 60,980, Rs. 11,640, Rs. 75,472, Rs. 81,074 and Rs. 1,02,596 for the assessment years 1971-72, 1972-73, 1974-75, 1975-76 and 1976-77, respectively, specially in view of the finding of the Tribunal in para 12 of its o .....

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..... Union Private Ltd. The interest was, however, taxed in the hands of the assessee. The assessee successfully appealed against the said inclusion and the Tribunal found as a fact that this interest had already been taxed as income in the hands of the sister concern, namely, Messrs. K. R. Steel Union Private Ltd. The Tribunal, therefore, rightly deleted the said income from the assessment of the ass .....

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