The Commissioner Of Income Tax-18 Mumbai v. Late Ratanlal M.sud ,L/H Urmila R.sud

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO. 1131/2010 The Commissioner of Income Tax-18MumbaiAppellant Vs. Late Ratanlal M.Sud ,L/H Urmila R.SudRespondent Mr.Suresh Kumar for appellantMr.S.S.Shetty for respondent CORAM-J.P.DEVADHAR AND MRS.MRIDULA BHATKAR ,JJDATE - 18TH JANUARY,2011. P.C. .A short question raised in this appeal is whether the Tribunal is justified in upholding the decision of CIT(A) and delete the disallowance of interest paid on the loans claimed as business expenditure. 2Perusal of the order of the Tribunal shows that the Tribunal has recorded clear finding of fact that the entire loan and advances and unsecured loans raised by the appellant have been expended for the business purposes during the year and therefore the interest paid on the loans is allowable as business expenditure. 3Since the finding of the Tribunal is based on finding of fact no fault can be found with the order passed by the Tribunal. The appeal is dismissed. No order as to costs. (Mrs.Mridula Bhatkar, J.) (J.P.Devadhar,J.)