1 itxa4316-09 sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.4316 OF 2009 The Commissioner of Income Tax, Central-I, Mumbai ..Appellant. V/s. M/s. Lotus Investments Ltd. ..Respondent. Mr. Suresh Kumar h/f. Ms. Padma Divakar for the appellant. None for the respondent. CORAM : J.P. DEVADHAR AND A.A. SAYED, JJ. DATED : 5TH AUGUST, 2011 P.C. :- 1. Whether the ITAT was justified in deleting the additions made by the assessing officer by disallowing interest and depreciation on the ground that the same could not be disallowed in the block assessment order passed under Section 158BC of the Income Tax Act, 1961, is the question raised in this appeal. 2, Perusal of the order passed by the ITAT shows that the transactions relating to the interest were reflected in the regular books of accounts maintained by the assessee and the deduction on account of 2 itxa4316-09 interest and claim for deduction were also subject matter of regular assessments under Section 143(3) of the Income Tax Act, 1961. In these circumstances, the decision of the ITAT that the said disallowance could not have been made in the block assessment year, cannot be faulted. In the result, the appeal is dismissed with no order as to costs. (A.A. SAYED, J.) (J.P. DEVADHAR, J.)