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2019 (2) TMI 1912 - AT - Income TaxDisallowance of interest expenditure u/s 36(1)(iii) - assessee company has used the borrowed funds for non-business purpose - CIT-A deleted addition - HELD THAT:- Since the facts of the instant case are identical to the facts of the case decided by the Tribunal in assessee’s own case for assessment years 2007-08 and 2010-11 [2019 (1) TMI 992 - ITAT DELHI], therefore, in absence of any contrary material brought to our notice against the order of the Tribunal and considering the fact that the own capital and free reserves are substantially higher than the investments, we find no infirmity in the order of the CIT(A) deleting the disallowance made by the Assessing Officer u/s 36(1)(iii). We, therefore, uphold the order of the CIT(A) and the grounds raised by the Revenue are dismissed.
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