K. Raviraja Pandian, J

These appeals are filed by the revenue against the order of the Income Tax Appellate Tribunal, A Bench, Chennai dated 112. 2003 made in M.P.128,129 & 130/Mds/2003 in ITA.Nos.1,2&3/Mds/98. The relevant assessent years are 1990-91, 1991-92 and 1992-93.

2. The facts as culled out from the statement of facts stated in the memorandum of appeals are as follows:-

The assessee firm filed its return of income for the assessment years 1990-91, 1991-92 and 1992-93. The assessing officer disallowed the entire interest payment to certain individuals claimed as a deduction, holding that the money lent has to be treated as belonging to the assessees firm though shown in books as borrowed. Aggrieved by the said order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals), who disallowed the deletion of interest and allowed the appeal in favour of the assessee. Aggrieved by the order of the Commissioner of Income Tax (Appeals), the Revenue took up the matter to the Income Tax Appellate Tribunal. The Tribunal dismissed the appeals in limine, without going into the merits of the case, on the ground that the total tax effect is less than Rs.1 lak