The Commissioner of Income Tax -1,MUMBAI v. M/S Birla International Pvt. Ltd.
Bombay HCITXA/341/2008
Case brief
from the order text
What is this about?
COURT OF JUDICATURE AT BOMBAY ORDINARY…
What the court decided
AI extract
Issue for consideration
Whether the Tribunal was justified in deleting the disallowance of Rs.1,29,25,000/- being interest on borrowings in respect of investment in Zenith Ltd.
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1
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
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ORDINARY ORIGINAL CIVIL JURISDICTION
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INCOME TAX APPEAL NO.341 OF 2008
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The Commissioner of Income Tax-1
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...Appellant
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vs.
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M/s.Birla International Pvt.Ltd.
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...Respondent.
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Mr.V.G.Gupta, for appellant.
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CORAM: D.K.DESHMUKH & J.P.DEVADHAR, JJ.
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DATED: 8th August, 2008.
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P.C.:-
Issues for consideration
2 issues framed by the court
AI extract
Whether the Tribunal was justified in deleting the disallowance of Rs.1,29,25,000/- being interest on borrowings in respect of investment in Zenith Ltd.
Whether the Tribunal was right in holding that the assessee had made investment in 0% Debenture during normal course of business with expectation of huge profit when in fact the debentures were issued
Parties & counsel
AI extract
- appellant
The Commissioner of Income Tax-1
- respondent
M/s.Birla International Pvt.Ltd.
Coram
AI extract
D.K.Deshmukh
Case details
As recorded by the court registry
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