In Itxa/471/2008 Of Commissioner Of Income-Tax-12,Mum v. M/S Urmila Construction Co, the High Court (2008) decided the matter.
Decision: Appeal is, therefore, rejected.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
O.O.C.J.
INCOME-TAX APPEAL NO.471 OF 2008
AND
INCOME-TAX APPEAL NO.472 OF 2008
...
The Commissioner of Income Tax-12 Appellant
v/s.
M/s.Urmila Construction Co. Respondent
...
Mr.P.A.Vora for the Appellant.
Mr.S.G.Dalal for the Respondent.
...
CORAM: D.K.DESHMUKH&
J.P.DEVADHAR, JJ.
DATED:19TH SEPTEMBER, 2008
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P.C.:
Heard the learned Counsel for both sides. The loan
was advanced in the earlier year 1997-98. There was
no entry made about the interest. Next year an entry
was made, but that was immediately reversed. That
has been accepted by the authority. It is
essentially a finding of fact. No substantial
question of law arises. Appeal is, therefore,
rejected.
(D.K.DESHMUKH, J.)
(J.P.DEVADHAR, J.)
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