2015 (10) TMI 2850

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a, A.R. with Shri G.M. Thakor, A.R. ORDER PER : S. S. GODARA, JUDICIAL MEMBER:- This assessee's appeal for A.Y. 2008-09, arises from order of the CIT(A), Gandhinagar dated 28-12-2011 in appeal no. CIT(A)- GNR/176/1011, in proceedings under section 143(3) of the Income Tax Act, 1961; in short "the Act". 2. The assessee's sole substantive ground challenges interest disallowance of Rs. 1,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T(A) has confirmed the Assessing Officer's action. 3. We have heard both the parties and perused the case file. Relevant facts narrated hereinabove are not reiterated for the sake brevity. We find that the hon'ble jurisdictional high court in (2014) 50 taxmann.com 52 Gujarat CIT Vs. Sarjan Realities Ltd. holds that solely because an assessee had paid an interest to different parties would not i....