Commissioner Of Income Tax Kot v. M/S Manglam Cement Ltd

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH ATJAIPUR D.B. Income Tax Appeal No. 104 / 2008 Commissioner Of Income Tax Kot ----Appellant Versus M/S Manglam Cement Ltd ----Respondent _____________________________________________________ For Appellant(s) : Ms. Parinitoo JainFor Respondent(s) : Mr. Sanjay Jhanwar _____________________________________________________ HON'BLE MR. JUSTICE K.S. JHAVERI HON'BLE MR. JUSTICE VINIT KUMAR MATHURJudgment / Order 27/01/2017 1.By way of this appeal, the appellant has challenged thejudgment & order of the Tribunal whereby the Tribunal has partlyallowed the appeal preferred by the department. 2.This Court while admitting the matter framed followingquestion of law:- “Whether the findings of the Tribunal areperverse in confirming the order of the CIT(A)by allowing interest of Rs. 4,64,99,798/- asrevenue expenditure, specifically when theinterest was paid on borrowed capital to set up anew unit and also capitalized in the books ofaccounts?” 3.Counsel for the appellant contended that the controversy inrespect of the same assessee has already been decided by thisCourt on 4[th] October, 2016 in D.B Income Tax Appeal No. 80/2002 where identical question was framed and the issue was decided in favour of the assessee and against the department. 4.Hence, the appeal stands dismissed. (VINIT KUMAR MATHUR)J. (K.S. JHAVERI)J. A.Sharma/91