M/S GKN DRIVELINE INDIA LTD, N vs. COMMISSIONER OF INCOME TAX, DE
ITA - 542 / 2005HC Delhi14 December 20051 pages
For Petitioner: V P GUPTA, BASANT KUMAR
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14.12.
2005 ADMIT. The following substantial questions of law are formulated for determination: ?1. Whether the ITAT was right in holding that payment of Rs.70 Lakhs made by the appellant on account of non-competition for a period of five years was in the nature of capital expenditure? .
2.
Whether the ITAT was right in holding that the interest income earned by the appellant on deposits in banks towards margin money is not income derived from industrial undertaking?? The appellant shall file within six months the requisite number of paper books in accordance with High Court Rules. Post the appeal for hearing in due course. . T.S. THAKUR, J . . . . . . B.N.CHATURVEDI, J DECEMBER 14, 2005 ss . .