Itxa/2468/2011 Of The Commissioner Of Income Tax Central Iv v. N.h. Securities Ltd

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2468 OF 2011 The Commissioner of Income Tax, Cen-IV, Mumbai ..Appellant. V/s. M/s. N.H. Securities Ltd. ..Respondent. Mr. Suresh Kumar with Padma Divakar for the appellant.Mr.Atul K. Jasani for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 8TH MARCH, 2013 P.C. :- 1.In this appeal by the revenue for the assessment year 2002-03, following question of law has been framed for our consideration:- “ Whether on the facts and in the circumstances of the case, the Tribunal was justified in allowing the claim of deduction of interest amounting to Rs.3,65,59,646/- ignoring the fact that no interest was provided in the audited accounts either by the assessee as expenditure or by the lender Bank as income and there was no actual liability of the assessee on this account ?” 2.The Tribunal by the impugned order allowed the claim of the respondent-assessee by following its decision in the matter of Class Credits Ltd. (now known as Chitrakut Computers Pvt. Ltd.). The revenue has come up in appeal from the order of the Tribunal in Chitrakut Computers Pvt. Ltd. This court by an order dated 1[st] March, 2013 did not entertain the appeal of the revenue. It is not disputed that that facts of this case are similar to the case of the facts in Chitrakut Computers Pvt. Ltd. In that view of the matter, for the reasons stated in our order dated 1[st] March, 2013, we see no reason to entertain the proposed question of law. 3.Accordingly, the appeal is dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)