2020 (6) TMI 413

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....LOK ARADHE AND HON'BLE MR. JUSTICE HEMANT CHANDANGOUDAR APPELLANTS (BY SRI K V ARAVIND, ADV.)   RESPONDENT (BY SRI A. SHANKAR, SENIOR ADVOCATE FOR SRI M LAVA, ADV.)   JUDGMENT ALOK ARADHE J., This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been filed by the revenue. The subject matter of the appeal pertains t....

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....efly stated are that assessee is carrying on the business of manufacture and sale of pellets hot rolled coils, sheets and plates. The assessee filed the return of income declaring the loss in respect of the Assessment year 2003-04. The assessee claimed a sum of Rs. 211.57 Crores restructuring package as deduction and further claimed a sum of Rs. 1,89,40,966/- as interest written off. The assessing....

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....ment could not be disputed by learned counsel for the revenue. 4. Similarly, learned senior counsel for the assessee submitted that substantial question of law No.1 is covered by decisions of this court as well as Delhi High Court in case of 'KIRLOSKAR ELECTRIC CO. LTD VS. CIT', 228 ITR 674 (KAR), 'COMMISSIONER OF INCOME TAX V. RATHI GRAPHICS TECHNOLOGIES LTD', 378 ITR 107 (DELHI) and answered ....