Any company whose principal business is banking or granting of loans and advances will not be attracted by explanation to section 73 of the IT Act, 1961

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4. From the record, we found that during the relevant year under consideration, the assessee was continuously engaged in the activity of financing, trading and real estate and had also undertaken transaction of purchase and sale of shares. It had earned income from paper trading including commission and service charges amounting to Rs. 4.78 lakhs, interest income of Rs. 42.56 lakhs, dividend income of Rs. 0.26 lakhs, profit on sale of mutual funds Rs. 44.90 lakhs and suff

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