2012 (3) TMI 519

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.... Senior Advocate with Mr. Ashish Rao and Mr. Tejas Shah i/by M & M Legal for the Respondent JUDGEMENT The appeal is taken up on board on the request of the learned Counsel appearing on behalf of the Revenue and the learned Counsel appearing on behalf of the Assessee together with the connected batch of matters and is called for hearing. 2 This appeal arises from a decision of the Income T....

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....circumstances of the case and in law, the Hon'ble Tribunal was justified in law in holding that the assessee is entitled to the deduction in respect of enhanced liability of Rs. 612.32 lacs being payment of interest to be made under the Drug Price Control Order,1979 notwithstanding the fact that the provisions of Section 43B was not complied with; c) Whether on the facts and in the circum....

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....ance of Rs. 16.55 lacs was incurred on revenue account. The Tribunal by its order dated 10 March 2006 held that share issue expenses to the extent of Rs. 45.99 lacs were attributable to the acquisition of assets in the form of plant and machinery and should be capitalized under that head and the depreciation/investment allowance would have to be allowed. The Assessee stated that the unit had becom....

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....as attained finality. Hence, no substantial question of law would arise. 5 As regards question b the Tribunal has followed the order passed for Assessment Year 1984-85 dated 10 March 2006 (which even according to the Revenue has attained finality). Besides the Tribunal has also followed its own decision for Assessment Years 1982-83 and 1983-84. In that view of the matter, since the decisions of....