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2016 (6) TMI 1040 - HC - Income TaxInterest paid on the nonconvertible debentures portion disallowed - ITAT deleted the addition - Held that:- the issue involved in these two matters is squarely covered by a decision of this Hon'ble Court in case of Deputy CIT V. Core Health Care Ltd., [2001 (4) TMI 46 - GUJARAT High Court ] which has been confirmed by the Hon'ble Apex Court as reported in case of Deputy Commissioner of Income Tax v. Core Health Care Ltd., [2008 (2) TMI 8 - SUPREME COURT OF INDIA ] wherein the interest paid on the nonconvertible debentures portion has considered to be an expenditure and therefore the deletion made by the tribunal is just and proper. - Decided in favour of assessee
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