2010 (1) TMI 12

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..... iation, which were not covered within the scope of the commercial expediency or business exigencies of the assessee – Held that – no substantial question of law arises – it is a case of pure finding of facts – appeal dismissed. - 1035/2007, 147/2009 & 152/2009 - - - Dated:- 18-1-2010 - MR. BADAR DURREZ AHMEDB and MR.SIDDHARTH MRIDUL, JJ. For the Appellant : Mr K.R. Manjani with Mr Madhu Su .....

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..... espect of the borrowed funds on the ground that the said borrowed funds were diverted to sister concerns. 2. The Assessing Officer as well as the Income-tax Appellate Tribunal came to the definite conclusion that there was a diversion of funds which had been borrowed by the assessee from banks to the sister concerns, namely, Govan Industrial Corporation and Anilmaa Association, which were not co .....

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