The Commissioner Of Income Tax-4 v. M/S. S. Kumar Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 6027 OF 2010 The Commissioner of Income Tax-4..Appellantversus M/s. S. Kumar Ltd. ..Respondent -------- Mr. Vimal Kumar, Sr. Advocate with Padma Divakar for the Appellant. Ms. Vasanti B. Patel for the Respondent. ............. CORAM : J.P. DEVADHAR & M.S.SANKLECHA, JJ. DATE : 29[th] October, 2012. P.C. : 1 The question of law raised by the revenue in this appeal read as thus: “Whether on the facts and in the circumstances of the case and law, the Tribunal erred in holding that the interest paid on borrowed funds for purchase of plant and machinery to the extent relatable to the period prior to the commencing of plant and machinery to be allowed as a deduction u/s. 36(1)(iii) of the Act?” 2 The Counsel for the parties state that the aforesaid question raised by the revenue stands answered against the revenue by the decision of the Apex Court in the case of DCIT V/s. Core Health Care Ltd. reported in (2008)298 ITR 194 (SC). 3 In this view of the matter, we see no merits in the appeal and the same is hereby disposed of. (M.S. SANKLECHA, J.) (J.P.DEVADHAR, J.)