1 909 itxa 4734.10.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION k INCOME TAX APPEAL NO.4734 OF 2010 The Commissioner of Income Tax-I .. Appellant. Vs. Jagdish Electronics (I) Private Limited .. Respondent. Mr. Vimal Gupta for the Appellant. Mr. S.N. Inamdar with Mr. Mihir Naniwadekar for Respondent. CORAM : J.P. DEVADHAR & K.K. TATED, JJ. DATE : 2ND SEPTEMBER, 2011. P.C. Heard. Admit on the following questions of law: 1 Whether on the facts and in the circumstances of the case and in law, the Hon’ble Income-Tax Appellate Tribunal did not err in confirming the order of the Commissioner of Income-Tax (Appeals) in substantially deleting the disallowance made by the Assessing Officer on account of Assessee’s claim of depreciation on plant and machinery instead of confirming the disallowance made by the Assessing Officer? 2 Whether on the facts and in the circumstances of the case and in law, the Hon’ble Income-Tax Appellate Tribunal did not err in confirming the action of the Commissioner of Income-Tax (Appeals) in deleting 2 909 itxa 4734.10.doc the disallowance of interest made by the Assessing Officer under section 40A(2) of the Income Tax Act, 1961 by holding that the purpose for which loan had been taken by the Assessee was for acquisition of a going concern and thus nothing but a business requirement? (J.P. DEVADHAR, J.) (K.K. TATED, J.)