2010 (2) TMI 1056

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....iled this Tax Appeal under Section 260A of the Income-tax Act, 1961 for the assessment year 2001-02 proposing to formulate the following substantial question of law; "Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT (A) deleting the disallowance of interest of Rs.31,68,436/- out of the total disallowance of interest of Rs.33,12,436/- made by ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....84/-. The Tribunal has also found that the advances on which no interest was charged by the assessee are Rs.1,61,58,614/-. Thus, the interest free funds available with the assessee were much more than the interest free advances given by the assessee. The Tribunal further observed that no material was brought on record by the Revenue to show that the interest free advances given by the assessee wer....