Court No. - 4 Case :- INCOME TAX APPEAL No. - 403 of 2012 Appellant :- M/S Banaras Chemical Factory, Ram Katora, Varanasi Respondent :- Commissioner Of Income Tax, Ayakar Bhawan, Varanasi Counsel for Appellant :- Siddharth Pathak,Ashish Bansal,R.S.Agrawal,S.K. Garg Counsel for Respondent :- S.C.,B.J.Agrawal,CSC,S.S.C. I.T.,Shubham Agrawal Hon'ble Abhinava Upadhya,J. Hon'ble Ashok Kumar,J. Heard Sri Ashish Bansal, learned counsel for assessee and Sri Subham Agrawal, learned counsel representing department. Following questions of law are referred for consideration of this Court. (i) Whether on facts and circumstances of case, ITAT was legally correct in holding that interest paid by appellant firm on credits as appearing in its books of account in immediately preceding year is disallowable in nature ? (ii) Whether view taken by ITAT is not vitiated as same has been arrived at without considering material and information as were available on record, as also umpteen number of case laws as were applicable on facts of assessee's case ? We do not find any substantial question of law involved in present appeal. issue has been discussed by Tribunal in detail. Needs no interference by this Court. appeal is, accordingly, dismissed. Order Date :- 11.10.2017 A.Kr.* [Ashok Kumar, J.] [Abhinava Upadhya, J.] Banaras Chemical Factory v. Commissioner of Income-tax, Varana