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2014 (7) TMI 1327 - BOMBAY HIGH COURTAddition u/s 14A - Substantial question of law - sufficient funds for the purpose of investment available with the Assessee - HELD THAT:- Tribunal has, in relation to the question projected before us as substantial question of law, found on facts that there were sufficient funds for the purpose of investment available with the Assessee .The documentary evidence in relation thereto was produced before the Tribunal. That indicated as to how there was increase in investment by ₹ 242.10 millions in the year whereas the shareholder fund of the Assessee was increased to ₹ 1752 millions. Thus, it is seven times more than the Assessee's investment made during the year. It is also evident that the profit after tax itself was much more and that could have covered the volume of investment. Concurrent findings have been reversed by the Tribunal by observing that the Assessee has sufficient own funds. When the Assessee has borrowed the funds even when he is having own funds, the presumption always goes in favour of the Assessee that the Assessee made investments out of own funds. We are of the opinion that the only question projected as substantial question of law by the Revenue would not enable us to entertain these Appeals.
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