In the result, appeal filed by the assessee is allowed for statistical purposes
Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)
section 36(l)(iii)." Further, in the case of CIT Vs Abhishek Industries Ltd. quoted above, the Hon'ble Punjab & Haryana High Court held that: - "Once it is borne out from the records that the assessee had borrowed certain funds on which liability to pay tax is being incurred and on the other hand, certain amounts had been advanced