SATISH KUMAR MITTAL, J. - (1.) THIS order shall dispose of IT Appeal Nos. 296, 341, 342 and 553 of 2007. In these appeals, the common questions of law and fact are involved. Out of these four appeals, three appeals, i.e., IT Appeal Nos. 296, 341 and 342 of 2007 have been filed by the Revenue, in which the following substantial question of law has been raised : "Whether, on the facts and circumstances of the case, the Tribunal is right in law in upholding the order of the CIT(A) in deleting the addition made by the AO on account of notional interest on the money advanced by the assessee to their sister concerns, without charging any interest, in contradiction with the judgment of this Court in CIT vs. Abhishek Industries Ltd. (2006) 205 CTR (P&H) 304 : (2006) 286 ITR 1 (P&H)."
(2.) IN the appeal, filed by the assessee, i.e., IT Appeal No. 553 of 2007, the following substantial question of law has been raised : "Whether, in the facts and circumstances of the case, the Tribunal was right in disallowing the interest under s. 36(1)(iii) of the IT Act on interest -free loans granted to the sister concern, contrary to the judgment of the Hon'ble Supreme Court in S.A. Builders Ltd. vs. CIT (2006) 206 CTR (SC) 631 : (2007) 288 ITR 1 (SC) -
(3.) THE brief facts of the four appeals are as under : IT Appeal No. 296 of 2007 : This appeal pertains to M/s Marudhar Chemicals and Pharmaceuticals (P) Ltd., Chennai, the assessee -company, for the asst. yr. 1997 -98.;