The Commissioner Of Income Tax, Central Iii,Mumbai v. M/S.mirc Electronics Ltd
High Court
25 Oct 2004 In favour of: Unclear
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax, Central Iii,Mumbai v. M/S.mirc Electronics Ltd
Date of order
25 Oct 2004
Assessment year(s)
—
Outcome
Other
The order — as passed by the High Court
Case summary
In The Commissioner Of Income Tax, Central Iii,Mumbai v. M/S.mirc Electronics Ltd, the High Court (2004) decided the matter.
Issue: The following substantial questions of law arise in this appeal: "(1)Whether on the facts and in thecircumstances of the case and in law, theTribunal was justified in allowing theamount of Rs.1,10,95,253/- representingpublic issue expenses on fullyconvertible as revenue expenditures underSection 37(...
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORIGINAL SIDE
INCOME TAX APPEAL NO. 572 OF 2003
The Commissioner ofIncome tax, Central III,Mumbaivs.M/s.Mirc Electronics Ltd.
Appellant
Respondent
Mr.R.V.Desai, senior counsel with Mr.R.Asokan i/b.Mr.S.S.Sarkar for the appellant.
CORAM: R. M. LODHA &J.P.DEVADHAR,JJ.
DATED: 25th October 2004
P.C.
Heard Mr.R.V.Desai, the learned senior counsel for
the revenue.
2. The following substantial questions of law arise in
this appeal:
"(1)Whether on the facts and in thecircumstances of the case and in law, theTribunal was justified in allowing theamount of Rs.1,10,95,253/- representingpublic issue expenses on fullyconvertible as revenue expenditures underSection 37(1) of the Income Tax Act?(2)Whether on the facts and in thecircumstances of the case and in law, theTribunal erred in deleting thedisallowance amount of Rs.13,20,983/-being interest on advance to associateconcerns given free of interest?"
3. Admit.
(R.M. LODHA,J.)
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