K.J. IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.151 OF 2009 The CIT-3, Mumbai )..Appellant Versus M/s.Shanudeep Pvt.Ltd., )..Respondents ---- Mr.Vimal Gupta with Mr.P.S.Sahadevan for the appellant. Mrs.V.B.Patel for the respondents. ---- Coram : F.I.Rebello & R.S.Mohite,JJ Date : 4.3.2009. PC 1. Revenue has come in appeal on the following two questions :- (A) Whether on the facts and in the circumstances of the case and law, the Hon’ble Tribunal is right in confirming the order of CIT(A) in allowing the disallowance of interest paid to trustees of M/s.Bhartiya Vidhya bhavan despite it can not be said as business expenditure ? (B) Whether on the facts and in the circumstances of the case and law, the Hon’ble Tribunal is right in confirming the order of CIT(A) in allowing the deduction in respect of investment allowance on account of increase in the value of plant and machinery consequent upon the exchange fluctuation ? 2. In so far as question-(A) is concerned, the Tribunal has noted that CIT(A) had allowed the appeal for the A.Y.1987-88. The revenue has not : 2 : preferred appeal against the said order of the Tribunal. That being the case, question-(A) would not arise. 3. In so far as question-(B) is concerned, the submission on behalf of revenue was that factually the difference in the rate of fluctuation had not been paid and the entries in the books was purely notional. 4. On behalf of the assessee, learned Counsel makes a statement that in fact the amount has been paid. Learned Counsel for the revenue accepted this statement. Considering the above, question of law as framed, would not arise. 5. Consequently, appeal dismissed. (R.S.Mohite,J) (F.I.Rebello,J)