2003 (4) TMI 573

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..... Mr. Sharma, learned counsel for the respondent-assessee submits that there was a Court circular that not to prefer the references in cases where the tax effect is less than ₹ 2,00,000. 3. The same argument has been considered by this Court in case of CIT vs. Rajasthan Patrika (2002) 178 CTR (Raj) 414: (2002) 258 ITR 300(Raj), wherein, the view has been taken that in spite of circular on a .....

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..... the nexus between interest-bearing loans and interest-free advances and consequently deleting the disallowance of ₹ 96,166." "Whether, on the facts and in the circumstances of the case, and in the absence of any exceptional circumstances shown by the assessee the Tribunal was justified in deleting the disallowance of ₹ 2,928 made under s. 40A(3) of the IT Act, 1961 ?" .....

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