The Commissioner of Income-tax-4 v. S. Kumar Synfabs Ltd
[Citation -2015-LL-0615-68]
| Citation | 2015-LL-0615-68 |
|---|---|
| Appellant Name | The Commissioner of Income-tax-4 |
| Respondent Name | S. Kumar Synfabs Ltd. |
| Court | HIGH COURT OF BOMBAY |
| Relevant Act | Income-tax |
| Date of Order | 15/06/2015 |
| Assessment Year | 1998-99 |
| Judgment | View Judgment |
| Keyword Tags | interest on capital • revenue expenditure • capital borrowed • question of law |
| Bot Summary: | P.C: This Notice of Motion seeks to re call the order dated 25 th July, 2008, dismissing the Appeal, as none had appeared for the Appellant. For the reasons stated in the affidavit in support, the order dated 25th July, 2008 is re called and the Notice of Motion is made absolute in terms of prayer clause. 2 At the instance of the counsel, the appeal itself is taken up for hearing. 4 This appeal by the revenue raises the following question of law for our consideration: whether in the facts and circumstances of the case and in law, the ITAT was justified in confirming the order of the CIT(A) in deleting the disallowance of Rs.1,694,09 lacs being the interest on capital borrowed and capitalized in the books of accounts but claimed as revenue expenditure by the assessee. 5 It is an agreed position between the parties that the proposed question stands concluded by the decision of the Apex Court in Deputy Commissioner of Income Tax v/s. 6 In view of the above, we find no substantial questions of law arises in this Appeal. |