K.J. IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1194 OF 2008 The CIT-8, Mumbai )..Appellant Versus M/s.Standard Tin Works Pvt.Ltd., )..Respondents ---- Mr.Suresh Kumar with Mr.P.S.Sahadevan for the appellant. None for the respondents. ---- Coram : F.I.Rebello & R.S.Mohite,JJ Date : 13.3.2009. PC 1. Revenue is in appeal on the following question . Whether on the facts and in the circumstances of the case, the Hon’ble Tribunal was right in law in allowing the appeal of the assessee holding that interest on borrowed amount for expansion of the business during the accounting period 2000-01 is an allowable deduction ? 2. The Tribunal has recorded the finding of fact that considering the accounting year 2000-2001, the amendment which came in to effect from 1.4.2003 would not be applicable and consequently the assessee would be entitled for allowance of interest on borrowed amount for expansion of assessee’s business. We may clarify that in fact the amendment came into force w.e.f. 1.4.2004, however, that would not make any difference in the case of the assessee. : 2 : 3. The issue has no longer res-integra considering the judgment of the Supreme Court in Deputy Commissioner of Income-tax Vs. Core Health Care Ltd., reported in 298 ITR 0194. 4. Considering the above, there is no merit in this appeal which is accordingly dismissed. (R.S.Mohite,J) (F.I.Rebello,J)