2012 (2) TMI 590

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... O R D E R PER SHRI MUKUL Kr. SHRAWAT, JUDICIAL MEMBER : This petition has been filed on 1st November 2011 by the petitioner, arising from the order of Tribunal dated 21st November 2011. Through this petition it is contended as under : "2. At the time of hearing, after arguing the issue about the disallowance of interest expenditure of Rs. 5,41,838/- paid by the assessee to the depositors for....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the loans and advances given by us, for which the interest expenditure was incurred." 2. On hearing the submissions of both the sides a short mistake pointed out is that while disallowing the amount of Interest paid of Rs. 5,41,838/-, the Tribunal has not granted the netting of interest earned of Rs. 35,203/-, which was an alternate plea of the counsel of the assessee. In support , during the hea....