ITA No. 124 of 2011 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No. 124 of 2011 Date of Decision: 16.8.2011 Vishal Tools & Forgings Private Limited ....Appellant. Versus Commissioner of Income Tax, Jalandhar ...Respondent. CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL, ACTING CHIEF JUSTICE. HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. PRESENT: Mr. Pankaj Jain, Advocate for the appellant. AJAY KUMAR MITTAL, J. 1. This appeal has been preferred by the assessee under Section 260A of the Income Tax Act, 1961 against the order dated 9.10.2009 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar, in ITA No. 157/Asr/2009, for the assessment year 2004-05, claiming the following substantial questions of law:- (a) Whether on the true and correct interpretation of Section 234B of the Act, the levy of interest is mandatory where there is a conflict of decision and the admitted that liability stands paid? (b) Whether on the true and correct interpretation of Section 57(iii) of the claim of expenditure for earning ITA No. 124 of 2011 -2- the interest is to be allowed under the Head Income From Other Sources while computing the Chargeable Income? (c) Whether on the true and correct interpretation of the provision of section 80HHC r.w. Section 80IA(9) r.w. Section 80IB(13) the Tribunal has erred in restricting the claim of deduction under the Act?” 2. Learned counsel for the assessee states that he is not pressing question (b) while question (a) is covered against the assessee by the order of this Court dated 20.5.2011 in ITA No. 121 of 2011 [Vishal Tools and Forgings Private Limited v. Commissioner of Income Tax, Jalandhar (Punjab)] and question (c) is covered against the assessee by the order of this Court dated 18.4.2011 in ITA No. 469 of 2010 [Asin Exim International v. Commissioner of Income Tax, Jalandhar, Punjab]. 3. In view of the above, the appeal is dismissed. (AJAY KUMAR MITTAL) JUDGE August 16, 2011 (ADARSH KUMAR GOEL) gbs ACTING CHIEF JUSTICE