1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. INCOME TAX APPEAL NO.2603 OF 2009 Director of Income Tax ..Appellant. Vs. Hoechst AG of Federal Republic of Germany ..Respondent. .... Mr. Suresh Kumar for the Appellant. Mr. Shah Sanjiv Madhusudan for the Respondent. .... CORAM : DR. D.Y.CHANDRACHUD & J.P. DEVADHAR, JJ. 8th January, 2010. P.C.: 1. The Appeal is admitted on the following substantial question of law: “(a) Whether on the facts and in the circumstances of the case and in law the ITAT was justified in allowing Respondent to substitute Fair Market Value of shares as on 01.04.81 for cost in respect of all shares including bonus shares?” 2. The second question which has been formulated by the revenue is as follows : “(b) Whether on the facts and in the circumstances of the case and in law the ITAT was justified in upholding the action or the CIT (A) in deleting levy of interest u/s. 234D of the Act?” 3. Counsel appearing on behalf of the revenue and on behalf of the 2 assessee are agreed in stating that the second question would be governed by the judgment of the Division Bench dated 15th April, 2009 in the Commissioner of Income Tax v. Bajaj Hindustan Limited (ITA 198 of 2009). The issue involved in the second question shall accordingly stand disposed of in terms of the aforesaid judgment. (Dr. D.Y.Chandrachud, J.) (J.P. Devadhar, J.)