IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME TAX APPLICATION NO.310 OF 1999 INCOME TAX APPLICATION NO.310 OF 1999 INCOME TAX APPLICATION NO.310 OF 1999 The Commissioner of Income tax ..Petitioner. V/s. M/s.Cygnus Negri Investment P. Ltd. ..Respondent. Mr.P.S.Sahadevan with A. Kotangale for petitioner. None for respondent. CORAM : DR. S.RADHAKRISHNAN AND CORAM : DR. S.RADHAKRISHNAN AND CORAM : DR. S.RADHAKRISHNAN AND J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. DATED : 6TH MARCH, 2007. DATED : 6TH MARCH, 2007. DATED : 6TH MARCH, 2007. P.C. :- P.C. :- P.C. :- . Heard learned counsel for the petitioner. The above appeal was admitted on the following question of law :- " Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in deleting the addition of Rs.17,88,000/- being notional interest on interest free deposit to the ADV of property ? " 2. The application pertains to the assessment year 1987-88. 3. The learned counsel for the petitioner states that the issue is covered by this Judgment of this Court in C.I.T. V/s. J.K.Investors C.I.T. V/s. J.K.Investors C.I.T. V/s. J.K.Investors reported in 248 I.T.R. 723 248 I.T.R. 723 248 I.T.R. 723 in favour of the assessee and against the Revenue. In view thereof, Rule stands discharged. 4. Application is disposed of. (DR.S.RADHAKRISHNAN, J.) (DR.S.RADHAKRISHNAN, J.) (DR.S.RADHAKRISHNAN, J.) - = : 2 : = - (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.)