2012 (11) TMI 1138

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....espondent. JUDGEMENT According to the revenue following questions of law arise out of the order of the ITAT dated 27/7/2010. a) Whether on the facts and circumstances of the case, the ITAT is right in law in holding that the Debentures would be convertible into shares by virtue of exercising of an "option" which would be at a future date and that it was not certain whether the optio....

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....2011 decided on 5/11/2012. Hence, question (a) cannot be entertained. 3) As regards the remaining two questions are concerned the finding of fact recorded by the Tribunal is that the expenses incurred by the assessee were in respect of the existing business and similarly interest and miscellaneous receipts were part of the existing business which had already commenced and hence liable to be tre....