1 IN THE HIGH COURT OF JDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.2538 OF 2010 The Commissioner of Income-tax-4 ..Appellant. Vs. M/s Yuvraj International Ltd .. Respondent. Mr.Vimal Gupta, for the Appellant. Mr. Ajay R Singh, for the respondent. CORAM : J.P. DEVADHAR & A.A. SAYED, JJ. DATE : 7TH JULY, 2011. P.C. 1. Heard. 2. Two questions of law raised by the revenue in this appeal read thus ; 1. Whether, on the facts and in the circumstances of the case and in law the Hon'ble Tribunal was justified in allowing the Assessee Company a claim of loss amounting to Rs.1,42,65,340/- which included bank interest amounting to Rs.1,19,88,711/- and bank charges amounting to Rs.33,622/- even though the record clearly shows that such loss could not be genuine, more so as the Assessee company did not even produce the Books of account for the relevant year before the Assessing Officer? 2. Whether on the facts and in the circumstances of the case and in law the Hon'ble Tribunal was justified in allowing the T 2 Assessee Company a claim of expenditure towards bank interest amounting to Rs.1,19,88,711/- even though such bank interest on a secured loan was not paid and therefore not allowable u/s 43B(e) of the Income-tax Act? 3. The finding of fact recorded by the ITAT as regards the first question is concerned, is that in the present case all details of purchase and sale along with the names and addresses of the parties, details of loan and advances are furnished by the assessee to the Assessing Officer and merely because for want of books of account loss claimed by the assessee could not be disallowed by the assessing officer. The decision of the Tribunal is based on the finding of fact. No interference is called for in the impugned order. 4. As regards the question no.2 is concerned, counsel for the revenue fairly accepts that the said question does not arise out of the order of the Tribunal. The appeal is disposed of . ( A.A. SAYED, J. ) (J.P. DEVADHAR, J.)