M/S HERBICIDES INDIA LTD vs. ASSISTANT COMMISSIONER
The appeals are dismissed
ITA/816/2008HC Rajasthan27 Mar 2025
Bench: AVNEESH JHINGAN,MANEESH SHARMA
Section 260Section 36(1)(iii)
4 of 6)
[ITA-816/2008]
sale of pesticides. During assessment proceedings the records
revealed that the appellant had borrowed interest bearing loans
and given interest free advances to the tune of Rs.37,06,431/-,
out of which Rs.32,75,000/- was given to DPFL. The AO framed
assessment on 10.03.2004 and under section 36(1)(iii) disallowed
the interest