COMMISSIONER OF INCOME-TAX Vs. GRINDWELL NORTON LTD

JUDGEMENT

(1.) Heard learned Counsel for the rival parties. All office objections are overruled. The appeal taken up for hearing on admission by consent of the parties.

(2.) The issue involved in this appeal is as to whether the interest received on overdue payment in business is deductible under Section 80HHC of the Income Tax Act, 1961. This issue is squarely covered by the judgment of the apex court in the case of CIT V/s. Govinda Choudhury and Sons, 1993 203 ITR 881 and also of this Court in the case of CIT V/s. Bhansali Engineering Polymars Ltd., 2008 306 ITR 194.

(3.) In this view of the matter, no substantial question of law is involved in the present appeal. The appeal is, therefore, dismissed. No order as to costs.