THE AJAY G. PIRAMAL FOUNDATION,NEW DELHI vs. DDIT (E), NEW DELHI
In the result, the appeal of the assessee is allowed for statistical purpose
ITA 808/DEL/2016[2010-11]Status: DisposedITAT Delhi29 Jun 2022AY 2010-11
Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usita No. 808/Del/2016 : Asstt. Year : 2010-11 The Ajay G. Piramal Foundation, Vs Ddit(E), 320, Tower-B, 11, Dlf Tower, Trust Circle-Iv, Jasola, New Delhi-110025 New Delhi-110002 (Appellant) (Respondent) Pan No. Aabtt1789N
For Appellant: Sh. Ankit Agrawal, CA &For Respondent: Sh. Lalit Kishore, Sr. DR
Section 11Section 11(5)Section 12ASection 13(1)(d)Section 14Section 14ASection 251
Trust Circle - IV, New
Delhi, (“the A.O.”) of not granting deduction of interest expense amounting to Rs. 15,50,137/- paid on loan borrowed by the Appellant on the alleged ground that there is no direct nexus between the loans borrowed and loans given by the Appellant.
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The Ajay G. Piramal Foundation
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The Appellant prays that the deduction
