1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION KJ NOTICE OF MOTION NO.2827 OF 2009 IN INCOME TAX APPEAL NO.5944 OF 2010 Commissioner of Income Tax-2 )..Appellant Vs. M/s.Cable Corporation of India Ltd., )..Respondents ---- Mr. P .S. Sahadevan for the appellant. Mr. Damodar i/by A.M.Kanga & Co. for the respondents. ---- CORAM : J. P .DEVADHAR & MRS.MRIDULA BHATKAR,JJ DATE : 18/1/2011. PC 1 By consent, Notice of Motion is made absolute in terms of prayer clause-(a). Appeal is restored to the file. (MRS.MRIDULA BHATKAR,J) (J.P.DEVADHAR,J) 2 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.5944 OF 2010 Commissioner of Income Tax-2 )..Appellant Vs. M/s.Cable Corporation of India Ltd., )..Respondents ---- Mr. P .S. Sahadevan for the appellant. Mr. Damodar i/by A.M.Kanga & Co. for the respondents. ---- CORAM : J.P. DEVADHAR & MRS.MRIDULA BHATKAR,JJ DATE : 18/1/2011. PC 1 Not on board. Taken up for admission by consent of parties. 2 Two questions are raised by the Revenue in this appeal. 1 Whether on the facts on in the circumstances of the case and law, the I.T.A.T is right in allowing disallowance of interest claimed u/s. 36(1) (iii) on debentures capitalized in the books of accounts ? 2 Whether on the facts on in the circumstances of the case and law, the I.T.A.T allowing disallowance of club membership expenses of Rs.18,00,000/- ? 3 3 Counsel on both sides state that first question is covered by the decision of the Apex Court against the revenue in the case of Deputy Commissioner of Income Tax Vs.Core Health Care Ltd., reported in 298 ITR 194. 4 As regards 2nd question, Counsel on both sides state that question is answered against the Revenue in the case of Otis Elevator Co. (India) Ltd., Vs. CIT reported in 195 ITR 682 (Bom). 5 Accordingly, we see no merit in the appeal. Appeal is dismissed. (MRS.MRIDULA BHATKAR,J) (J.P.DEVADHAR,J)