- 1 - IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. INCOME TAX APPEAL NO.258 OF 2008 WITH INCOME TAX APPEAL NO.288 OF 2008 ----------------------------------------------------- Office Notes, Office Memoranda of Coram, Court’s or Judge’s appearances, Court’s orders order or directions ----------------------------------------------------- ¦ Mr.Vimal Gupta for the Appellant. ¦ Mr.R.F.Kanga i/b D.A.K.Jasani for ¦ the Respondent. ¦ ¦ CORAM: D.K.DESHMUKH & ¦ J.P.DEVADHAR, JJ. ¦ DATED: 7TH AUGUST, 2008 P.C.: Heard the learned Counsel for both sides. There is a clear finding recorded that the entire interest income earned by the Respondent is the income from business. In view of the judgment of the Division Bench of the Bombay High Court in the case of Commissioner of Income-tax v/s. Paramount Premises (P) Ltd. 190 ITR 259 and the judgment of the Supreme Court in the - 2 - case of Commissioner of Income-tax v/s. Bokaro Steel Ltd., 236 ITR 315, the learned Counsel for the Appellant was not justified in placing reliance on the judgment of the Supreme Court in the case of Tuticorin Alkalies & Chemicals Ltd., 227 ITR 172. In our opinion, in view of the reasons given in the judgment of the tribunal, specially paragraphs 6 & 7 thereof, no question of law arises. Hence, the appeals are rejected. (D.K.DESHMUKH, J.) (J.P.DEVADHAR,J.)