TMI Blog2020 (6) TMI 32X X X X Extracts X X X X X X X X Extracts X X X X ..... tled to the benefit of Section 36 (1) (iii) - CIT(A) gave a categoric finding that the funds used for purchase of land and construction were interest free funds and were not those which were obtained as loan from the bank and this finding on fact has been upheld by the Tribunal - HELD THAT:- Petitioner is not in a position to deny that the matter is squarely covered by the judgments of S.A. Builde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - ITA-465-2018 - - - Dated:- 16-1-2020 - HON'BLE MR. JUSTICE AJAY TEWARI AND HON'BLE MR. JUSTICE AVNEESH JHINGAN Mr. Amrinder Singh, Advocate for the appellant. ORDER AJAY TEWARI, J (Oral) 1. The appeal has been filed against the order of the CIT (A) and Income Tax Appellate Tribunal ( for short 'the Tribunal') whereby two additions made by the Assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Learned counsel for the petitioner is not in a position to deny that the matter is squarely covered by the judgments of S.A. Builders Limited Versus CIT (Appeals) and another; 2007 (15) SCC 147 and Bright Enterprises (P) Ltd. Versus Commissioner of Income Tax; 2016 (381) ITR 107. 1. In view of the above, the first question is answered in negative. 2. As regard question No. 2, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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