IN THE HIGH COURT OF DELHI AT NEW DELHI 
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   ITA 1269/2011  
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 CIT            ..... Appellant 
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 Through Ms. Suruchi Aggarwal, Adv. 
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 versus 
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 TULIP STAR HOTELS LTD       ..... Respondent 
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 Through Mr. V.N. Jha, Adv. 
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 CORAM: 
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 HON'BLE MR. JUSTICE SANJIV KHANNA 
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 HON'BLE MR. JUSTICE R.V.EASWAR 
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 O R D E R 
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      08.12.2011 
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 C.M.Nos.22133/2011 and 22134/2011 
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 These are applications for condonation of delay of 66 days in 
 filing of the appeal and 103 days in refiling of the appeal under Section 
 260 A of the Income Tax Act, 1961. 
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 Learned counsel for the respondent-assessee states that he has no objection if the delay are condoned. In view of the statement made, the 
 applications are allowed and the delay in filing and refiling of the 
 appeal are condoned. 
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 ITA 1269/2011 
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 The issue raised by the Revenue in the present appeal under Section 
 260A of the Income Tax Act, 1961 relates to disallowance of payment of 
 interest on the capital borrowed for subscribing to the equity share 
 capital of the subsidiary company. The stand of the Revenue is that the 
 interest paid or expenditure incurred was not for business purposes. The 
 present appeal relates to assessment year    2006-07. 
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 A similar question was raised by the Revenue for another assessment 
 year in an appeal under Section 260A of the Act, but the said appeal was 
 dismissed by the decision reported as CIT Vs. Tulip Star Hotesl Ltd. 
 (2011) 338 ITR 482. 
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 Following the reasoning given in the said order, we dismiss the 
 present appeal. No costs. 
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 SANJIV KHANNA, J. 
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 R.V.EASWAR, J. 
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 DECEMBER 08, 2011 
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 NA 
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 $ 11 
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