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2023 (12) TMI 37 - SUPREME COURTSubstantial questions of law sought to be raised were not formulated by the High Court - Interest disallowance on account of interest bearing funds diverted to associate companies and addition of difference between stock as per the books of account and as per the stock statements submitted to the Bank - Additions were deleted by the ITAT - HELD THAT:- High Court to consider the submissions to be made by the respective parties and to raise the above substantial questions of law if they so arise. It is needless to observe that on hearing the learned counsel for the respective parties, the High Court is also empowered to raise any other substantial question of law which may arise in the matter(s). The aforesaid questions are stated to be substantial questions of law by learned counsel for the appellant(s). It is needless to observe that the respondent(s) is at liberty to contend that the aforesaid questions are not substantial questions of law and therefore do not require to be entertained in this appeal.
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