2012 (4) TMI 787

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.... Revenue : Shri S.R. Senapati. For the Assessee : Shri P.C. Verghese. ORDER Per N.R.S. Ganesan (JM) On a difference of opinion between the Members, who constituted the bench originally the matter was referred to the Learned Vice President as Third Member. 2. The Learned Vice President, after considering the arguments advanced on both sides found that the loan given to the subsidiary....

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.... the Income-tax Act. (2) The disallowance of loan does not arise out of the order passed u/s 154 of the Income-tax Act. With regard to the issue in respect of amortization of public issue expenses u/s 35(2) of the Act, the order of the Commissioner of Income-tax(A) is confirmed. (3) The next issue is with regard to interest on bank deposit and RBI Bonds. Both the Members, who originally cons....