1996 (2) TMI 17

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....of this Court relating to the asst. yr. 1963-64 : "1. Whether, on the facts and in the Circumstances of the case, the Tribunal is legally justified in its opinion that the sum of Rs. 85,711 paid to Swadeshi Cloth Dealers Ltd. as interest on borrowed capital was an allowable deduction under s. 36(1)(iii) of the IT Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the ....

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..... 3. In our opinion, this is purely a finding of fact which has been recorded by the Tribunal and there is no reason to doubt the correctness of the same. We, therefore, answer this question in the affirmative, i.e., in favour of the assessee and against the Revenue. 4. Then we come up to question No. 2. The short question for consideration is whether the amount of Rs. 4,740 was rightly held....

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....ee shall be at liberty to add, install or errect such further machineries, plants and equipments as he may choose or consider necessary for the efficient carrying on or of manufacturing process of the mills, provided that the installations shall be made with the previous intimation in writing giving specification of the same to the lessors. The responsibility to maintain the replacement machines i....