1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2363 OF 2009 The Commissioner of Income Tax – 1, Mumbai ..Appellant. Versus M/s.Birla International Private Limited, Mumbai ..Respondent. Ms.Suchitra Kamble i/by Mr.Suresh Kumar for the appellant. Mr.Pankaj R. Toprani for the respondent. CORAM : Dr.D.Y. Chandrachud & J.P. Devadhar, JJ. DATE : 13th January, 2010. P.C. : 1. The learned counsel appearing on behalf of the revenue states that the appeal filed by the revenue against the common judgment and order of the tribunal dated 19th August 2008 has been dismissed on 15th December 2009 by a Division Bench of this Court (Income Tax Appeal No.2198 of 2009) in relation to assessment year 2000-2001. The present appeal which relates to assessment year 2001-2002 admittedly raises the same issue and is, therefore, covered against the revenue by the earlier judgment dated 15th December 2009. In any event, we find from the reasons recorded by the tribunal that the tribunal has accepted the case of the assessee that the company to whom loans were granted by the assessee had become 2 sick and that there was a reference to the BIFR. The net worth of the company had became negative. The Board of Directors had, therefore, waived the interest by passing a resolution dated 3rd March 2000, which was before the close of the accounting period. In view of this finding of fact, we find that no substantial question of law arises. The appeal is accordingly dismissed. No costs. (J.P. Devadhar, J.) (Dr.D.Y. Chandrachud, J.)