IN THE HIGH COURT OF DELHI AT NEW DELHI 
 53. 
         ITA 818/2010  
 . 
 HOUSING URBAN DEVELOPMENT CORP. LTD.   ..... Appellant 
 Through:       Mr. Ramji Srinivasan, Sr. Adv. with 
 Mr. Jayant K. Mehta, Adv. 
 versus 
 . 
 ACIT                                                            ..... 
 Respondent 
 Through:       Mr. Satyakam, Adv. for Mr.Kamal 
 Sawhney, Adv. 
 CORAM: 
 HON'BLE THE CHIEF JUSTICE 
 HON'BLE MR. JUSTICE MANMOHAN 
 . 
 O R D E R 
                               07.07.2010 
 CM 11620/2010 (exemption) 
 . 
 Allowed subject to all just exceptions. 
 . 
 CM 11621/2010 (delay in filing), CM 11622/2010 (delay in refiling) 
 . 
 These are applications for condonation of delay in filing and re-filing 
 the appeal.  We have heard Mr.Ramji Srinivasan, learned senior counsel along 
 with Mr. Mehta learned counsel for the appellant and Mr. Satyakam, learned 
 counsel for the respondent.  Regard being had to the averments made in the 
 applications, delay in filing and re-filing the appeal stands condoned.  The 
 applications are accordingly disposed of. 
 ITA 818/2010 
 As we have condoned the delay, we are inclined to take up the appeal for 
 admission.   The  present  appeal  preferred under Section 260A of the Income 
 Tax 
 ITA 818/2010 
 Page 1 of 2 
 Act, 1961 is admitted on following substantial questions of law: 
 i.       Whether the authorities below misdirected themselves in disallowing the 
 amount of Rs.4,48,069/- on account of reversal of unclaimed interest on 
 debentures? 
 ii.       Whether the provisions of Section 41(4A) as amended by the Finance 
 Bill 1997 can be said to have retrospective effect? 
 iii.       Whether the provisions of Section 41(4A) as amended by the Finance 
 Bill 1997 can be made applicable to a Special Reserve ?created? in previous 
 years i.e. 1996-97? 
 . 
 As Mr. Satyakam has entered appearance, no further notice need be issued. 
 At this juncture, it is apt to note as the issue regarding 
 maintainability of the appeal has been raised by learned counsel for the 
 . 
 . 
 respondent, the same is kept open to be delved into at the time of final 
 hearing. 
 . 
 . 
 CHIEF JUSTICE 
 . 
 . 
 . 
 MANMOHAN, J 
 JULY 07, 2010 
 pk 
 . 
 . 
 . 
 ITA 818/2010 
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