THE DY CIT CIR 1(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPN LTD., MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

capital gain and dividend) at 66.25 : 33.75.\nThe way in which the AO has allocated various expenses is described\nas under:\n(i)\nIn the computation of income from business eligible for deduction un-\nder section 36(1)(viii) of the Act, the AO has reduced the entire interest\non foreign currency borrowings and provision for contingencies as ex-\npenditure

THE DY CIT CIR 1(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPN LTD, MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

capital gain and dividend) at 66.25 : 33.75.\nThe way in which the AO has allocated various expenses is described\nas under:\n(i)\nIn the computation of income from business eligible for deduction un-\nder section 36(1)(viii) of the Act, the AO has reduced the entire interest\non foreign currency borrowings and provision for contingencies as ex-\npenditure

M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG 1(1), MUMBAI

capital gain and dividend) at 66.25 : 33.75.\nThe way in which the AO has allocated various expenses is described\nas under:\n(i)\nIn the computation of income from business eligible for deduction un-\nder section 36(1)(viii) of the Act, the AO has reduced the entire interest\non foreign currency borrowings and provision for contingencies as ex-\npenditure

M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG-1(1), MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

capital gain and dividend) at 66.25 : 33.75.\nThe way in which the AO has allocated various expenses is described\nas under:\n(i)\nIn the computation of income from business eligible for deduction un-\nder section 36(1)(viii) of the Act, the AO has reduced the entire interest\non foreign currency borrowings and provision for contingencies as ex-\npenditure

HOUSING DEVP. FIN.CORPN. LTD. vs. THE ADIT CIR. 1(1),

The appeal of the assessee is partly allowed

capital gain and dividend) at 64.99:35.01. The way in which the\nAO has allocated various expenses is described as under:\nIn the computation of income from business eligible for deduction under section\n36(1)(viii) of the Act, the AO has reduced the entire interest on foreign currency\nborrowings and provision for contingencies as expenditure incurred for earning