9911796707
TMI Blog1983 (1) TMI 133X X X X Extracts X X X X X X X X Extracts X X X X ..... eals is however common and that is whether the AAC erred in upholding the addition on account of disallowance of Rs. 13,500 out of interest paid by the assessee. 2. After hearing both the sides. I find that the addition is without justification for the reasons assigned below. The assessee is a registered firm working under the name and style of M/s Jai Bhagwan Om Parkash. For the assessment yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Vajinder kumar. Since kailash Chander and Vajinder Kumar are partners of M/s Haryana Rice Mills even if Rs. 75,000 may be stated to have been given without interest the sum of Rs. 1,10,000 so taken has not been given interest upon. Similarly, it was pointed out that in the next year as against the sum of Rs. 75,000 due from Haryana Rice Mills, there was a credit in the account of Parkash Agri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra 1. This issue was regarding the applicability of the provisions of s 145(2) of the Act to the fact of the case for the case for the asst. yr. 1977-78 Therefore, no concession can be attributed to the assessee with regard to the issue now projected in the appeals. 4. After careful consideration of the submission of the parties before me, I find that there are no fresh borrowing which can be s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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