1 itxa4746-10 sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.4746 OF 2010 The Commissioner of Income Tax-LTU ..Appellant. V/s. Lubrizol India Pvt. Ltd. ..Respondent. Mr. Suresh Kumar for the appellant. Mr. Atul K. Jasani for the respondent. CORAM : J.P. DEVADHAR AND A.A.SAYED, JJ. DATED : 27TH JULY, 2011 P.C. :- 1. Matter not on board. Taken up for admission by consent of the parties, 2. The appeal is admitted on the following question of law:- " Whether on the facts and circumstances of the case and in law, the Tribunal was correct in directing the AO to exclude 90% of "net" and not "gross" amount of interest receipts from the "profits of business" as per clause (baa) of explanation to Section 80HHC of the Act ? " 3. Counsel for the parties state that the aforesaid question is 2 itxa4746-10 answered in favour of the revenue by the decision of this Court in the case of CIT V/s. Asian Star Co. Ltd. reported in [2010] 326 ITR 56 (Bom). Accordingly, the aforesaid question raised in this appeal is answered in favour of the revenue and against the assessee. The appeal is disposed off accordingly with no order as to costs. (A.A. SAYED, J.) (J.P. DEVADHAR, J.)