The Commissioner Of Income Tax, Central Ii, Mumbai v. M/S.tolaram & Company

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.3546 OF 2010 The Commissioner of Income Tax, Central II, Mumbai..Appellant. Versus M/s.Tolaram & Company..Respondent. Mr.Vimal Gupta for the appellant.Mr.Atul K. Jasani for the respondent. CORAM : J.P. Devadhar & K.K. Tated, JJ. P.C. : DATE : 18[th] August, 2011. 1.Four questions of law have been raised by the Revenue in this appeal. Counsel for the parties state that the first three questions are already answered against the Revenue by this Court in the case of Commissioner of Income Tax V/s. Brahma Associates reported in (2011) 333 ITR 289 (Bom). Accordingly, first three questions raised by the Revenue cannot be entertained. 2.As regards fourth question is concerned, the interest paid by the assessee in respect of abandoned project was allowed as a revenue expenditure by following its decision in the assessee’s own case for the assessment years 2000-01 and 2001-02. The appeals filed by the Revenue against the decision of the Income Tax Appellate Tribunal for assessment years 2000-01 and 2001-02 have been rejected under Rule 986 of the Original Side Rules and no steps have been taken to restore those appeals. Thus, the orders passed by the Income Tax Appellate Tribunal for assessment years 2000-01 and 2001-02 have attained finality. 3.In these circumstances, we see no reason to entertain this appeal. The appeal is accordingly dismissed with no order as to costs. (K.K. Tated, J.) (J.P. Devadhar, J.)