Bgp v. Is, Therefore, Dismissed In Limine With No Order As To

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.322 OF 2009The Commissioner of Income Tax..AppellantVs.M/s.Lloyds Steel Industries Ltd...RespondentMr.Suresh Kumar for Appellant.Mr.Atul K.Jasani for respondent.CORAM :- V.C.DAGA &J.P.DEVADHAR,JJ.DATE : 17TH APRIL,2009P.C.1.Heard learned Counsel for parties. So far asthe first question is concerned, this Court, in thecase of Commissioner of Income Tax Vs. MaharashtraState Seeds Corporation in Income Tax Appeal No.14 of2000 decided on 5th November, 2000held that if theamount was paid within grace period, no disallowancecan be made. Considering this legal position, thefirst question does not arise.2.So far as the second question is concerned,the Tribunal has recorded the finding of fact thatthere were expenses incurred by the Assessee out ofdividend income. This finding is based onappreciation of evidence. There is no substantialquestion of law involved in the appeal. The appeal is, therefore, dismissed in limine with no order as to costs.