In the result, (i) the appeal of the assessee for AY 2009-10 is partly allowed and for AY 2020-21 is treated as allowed
Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)
249/- and added the same to the total income. 6.2 Before ld CIT(A), the assessee contended that the investments have not been made out of borrowed funds. It was submitted that the own funds available with the assessee have exceeded the value of investments and hence no disallowance out of interest expenditure is called for. Hence