The tacts are in a narrow companypass and may be stated as under.
This appeal, by special leave, has been filed by the Revenue against the judgment of the Delhi High Court dated July 25, 1980 in I.T.C. No.
62,160/ as dividends on the said shares in the industrial as well as number industrial companypanies.
In the assessment year 1972 73 the assessee has received Rs.
He had paid a sum of Rs.
55,197/ as interest on money borrowed for making investment in the shares.
18,516/ received as dividend on the shares in Bharat Steel Tubes Ltd., an industrial companypany.
The amount received as dividend included Rs.
The assessee had made investments in shares in industrial as well as number industrial companypanies and for the purpose he had borrowed funds.
23 of 1980 whereby the High Court has dismissed the application filed by the Revenue under Section 256 2 of the Income tax Act, 1961 hereinafter referred to as the Act .
