2001 (7) TMI 82

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....r / Decisions)<br>Dated:- 17-7-2001<br>- - -<br>Income Tax<br>Judge(s)&nbsp; : S. K. SEN., A. K. YOG.&nbsp; JUDGMENT We have heard Sri S. N. Morarka, learned counsel appearing on behalf of the a....

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.... assessee on its borrowed funds in excess of 12 per cent. was justified under section 36(1) of the Income-tax Act, 1961, only because the assessee-company had utilised its own fund to advance loans at....