1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. INCOME TAX APPEAL NO.628 OF 2008 The Commissioner of Income Tax-9. ...Appellant. Vs. Bhageria Dye Chem Ltd. ...Respondent. .... Mr. Vimal Gupta with Mr.Suresh Kumar for the Appellant. MsAarti Sathe with Mr.Kalpesh Turalkar i/b. Kranti Sathe & Amruta Sathe for the Respondent. ..... CORAM : DR.D.Y.CHANDRACHUD AND J.P.DEVADHAR, JJ. March 19, 2010. P.C. : The appeal by the Revenue was admitted by an order dated 22nd September 2008, on the following question of law: “Whether on the facts and in the circumstances of the case and in law, the Hon’ble ITAT is justified in holding that ‘net’ interest income and not the “gross” interest income is to be excluded from the profits of the business for the purpose of computing deduction u/s.80HHC of the IT act, 1961?” Counsel appearing on behalf of the Revenue and Counsel appearing on behalf of the Assessee agreed that the question would be covered in favour of the Revenue and against the Assessee by the judgment of this Court delivered today in CIT vs. Asian Star 2 Co. Ltd. (Income Tax Appeal No.200 of 2009). The question is accordingly answered in favour of the Revenue and against the assessee for the reasons stated in the judgment. The appeal is allowed. There shall be no order as to costs. ( Dr.D.Y.Chandrachud, J.) ( J.P.Devadhar, J.)