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2016 (10) TMI 1104 - HC - Income TaxDisallowance u/s. 36(1)(iii) - nexus between interest bearing funds and interest free advances - proportionate disallowance of interest - Held that:- Tribunal in the impugned order rendered a finding of fact that the Respondent-Assessee had its own sufficient funds available to make advances it had made to its sister concern. This on the basis that the assertions of Respondent-Assessee to the above effect were not controverted before the Tribunal at the time of hearing nor in the remand report of the Assessing Officer. The impugned order of the Tribunal about availability of sufficient interest-free funds with the Respondent-Assessee to make advances to its sister concerns, is finding of fact. The same is being assailed without in any manner showing the same to be perverse. Hence, the question as framed does not give rise to any substantial question of law. Thus, not entertained.
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