High Court Karnataka High Court

Motor Industries Co Ltd vs The Commr Of Income Tax … on 5 August, 2008

Karnataka High Court
Motor Industries Co Ltd vs The Commr Of Income Tax … on 5 August, 2008
Author: K.L.Manjunath & A.S.Pachhapure
 c.R.Bui1dmg % 
~  mngalomvseo 001
 ;fis§t. Comm1m' -' net cfineontntdax

.   Rmpfathunga Row

 "_inn'sé1ctm' ' a had wasted with the

in Tim man count or xuuwramx xr 

DATED mm ma 573 mm or AUGUST     ' 
PRES"? 1.    ._
mm Hownm am. JIISTICE   
THE I-IOFBLE nsn.JUs1ic:£f:1s;,s.rI}§e§;£.4£1¥nii.=:§'  
Incomg Tax .A1?ge_al__z  

Between:
Motor Industries Co. Li;'c1.__ . H » _  - 

Adugodi   1' a:_ 
Bangalore - 56Q(_)30_ 

Represcntedby its'~  .4 

(Joint I)i:ect.ofr..AA '  "  -. '

Mr.V.K.Viswa:€aat31an}V *    Appellant

(By Sri   for M/s King & Partridge,
Azivocatcfaf "   ., 2

1.

‘§;1i«-.V Income-tax

Bangaxoz-e-1r1~ % ;:

Queens

12(1)

_4 re
(Formerly i.e., at the relevant time

Deputy Commissioner of Incame-twz

(Asst). Special Range -, 6, Banww) — _

(By Sri M.V.SeshachaIa, Advocain) __ V L
This Income tax appeal fled 1:/s i1:<(X=m¢' ' ' –
1961 arising out of order (it. 31.5.:eoo«3_ "din 'I'¥'A=._Ne..

396/Bang/1998 for the asemfltnt yew

fonnulate substantial questions of em, .

This appeal oerm-'mg up day,
Manjunath J., delivered flze.fo11mwi;1g:– " :4 V V

This appeal the cxmcmxent
findings of the Omeer confirmed by
the fizrther confirmed by
the Ii1c0me vTl"'a'vr" in ma No.396/Bang/ I998
dated 31.05.2<3G4_'_£zn~§ tiic_ year 1991432. The fonswing
fi'meti' in this appwl:

the Triizmnal was correct in iaw in holding

A incurred-‘ on presentation alticles,

A did not have any mt value ‘m

3 V __ by the pmfmions of R11-k 68 cf the Imam:-mx
A Ruies?

VA Whether the Tribunal was correct in law in holding

that the interest £10131 short term bank écpoeits did not

{V

(Seduction and the first question is anmmd in favcatagn? :’é§ai:..

asscssee and xiciing the mattcr to the H

considtizr how the interest recciveci by ” xto.}_fbe’7_ V’

aeoountcd for the purpose of