2019 (4) TMI 1793

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.... Mr. Aman Gahlot with Ms.Divyasha Mthur i/by M/s PDS Legal ORDER P.C.: 1. Revenue has filed this appeal against the judgment of the Income Tax Appellate Tribunal. Following question is presented for our consideration: "Whether on the facts and circumstances of the case and in law, the ITAT erred in not upholding the decision of the Ld.CIT (A) in allowing assessee's claim for ....

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....s. CIT 288 ITR 1 (SC) and concluded as under : "If the aforesaid ratio laid down by Hon'ble Apex Court is analyzed by keeping the same in juxtaposition with the facts of the present appeal, firstly, we find that there is no finding by the Assessing Officer that the funds were not utilized for business purposes and secondly, we note that advancing loan to the sisterconcern was for the ....