HC to ITAT: Mention citation and no general observations in order

Pr. CIT Vs M/s. M. J. Exports Pvt. Ltd. (Bombay High Court) HC held that impugned order of the Tribunal after recording that the issue stands covered by various decisions of the Supreme Court and the various High Courts cases observes ‘admittedly, there are contrary decisions where it is held that interest paid on delayed payments cannot be allowed as deduction in the assessment proceedings.’ The above statement in the impugned order led us to direct the counsel appearing for the parties to examine the law on this issue and to bring to our attention any decision contrary to the vie...