Assessee has raised the ground that in the facts and circumstances of the case and in view of the material available on record the learned CIT(A), Jodhpur has erred in law and facts in maintaining the impugned disallowance of interest of Rs. 3,00,000 on advances made for purchasing of closed Textiles Industrial Unit, of Rs. 40,00,000 out of interest payment of the appellant. The same was unjustified, contrary to the facts on record and as well as contrary to the settled legal position in this regard.