2013 (10) TMI 931

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....ue notice. 2. Shri Kavin Gulati, learned senior counsel appears and accepts notice on behalf of the caveator/ respondent. 3. Leave granted. 4. We have heard learned Solicitor General of India and Shri Kavin Gulati, learned counsel for the respondent. 5. The High Court, while dismissing the Income Tax Appeal No.452 of 2010, by its order dated 28th January, 2013 has answered four questio....

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....ue and allowing the loss on revaluation of foreign currency? (c) The third substantial question of law arises in the present appeal is regarding the true scope and correct interpretation of Section 36(1)(iii) and other provisions of the Income Tax Act, 1961 and whether on the facts and circumstances of the case and in law, the Tribunal is right in allowing the interest paid on inter-corporate d....

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....cts. Therefore, we do not intend to entertain those two questions. 8. Insofar as question No.(a) is concerned, this Court has, in assessee's own case, i.e. in Civil Appeal No.5338 of 2013 titled as "The Commissioner of Income Tax vs. Essar Projects Ltd.", decided on July 8, 2013, has remanded the matter back to the High Court for a fresh disposal in accordance with law. The order passed by this....