2017 (8) TMI 376

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Advocate for the Respondent ORDER P. C.   1 The appeal pertains to Assessment Year 2008-2009. Mr.Tejveer Singh, the learned counsel submits that the Tribunal failed to appreciate that the assessee had cash balance available in the nature of investment in mutual funds and under these circumstances, interest bearing loans cannot be considered as purely for business purpose. Provisi....