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2022 (6) TMI 190 - HC - Income TaxCapitalisation of interest on FDRs earned during the period of construction - utilizing the ECB funds the assessee did not follow the RBI guidelines - Also submitted hat the ITAT has failed to consider the various decisions of the Apex Court including Tuticorin Alkali Chemicals and Fertilizers Limited vs CIT [1997 (7) TMI 4 - SUPREME COURT] - HELD THAT:- This Court vide its order [2022 (4) TMI 1233 - DELHI HIGH COURT] dismissed a similar appeal preferred by the Revenue against the ITAT order passed in assessee’s own case for the earlier Assessment Year 2012-13. This Court in [2022 (4) TMI 1233 - DELHI HIGH COURT] held that “ The judgment passed in Tuticorin Alkali Chemicals (supra) referred to and relied upon by learned standing counsel for the Appellant has been considered and explained subsequently by the Apex Court in Commissioner of Income Tax, Bihar II, Patna vs. Bokaro Steel Ltd., Bokaro [1998 (12) TMI 4 - SUPREME COURT] Keeping in view the aforesaid, this Court is of the opinion that no substantial question of law arises for consideration as the questions sought to be raised in the present appeal are squarely covered by the decisions of the Apex Court as well as this Court. Accordingly, the present appeal is dismissed.
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