Commissioner Of Income Tax v. Imfa Holdings Pvt.ltd

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1913 OF 2009 Commissioner of Income Tax Vs.Imfa Holdings Pvt.Ltd. ..Appellant ..Respondent Mr.Vimal Gupta for appellant.Ms.Yogini Ghawale i/b. Roy’s Law Firm for respondent. P.C. CORAM :- V.C.DAGA &J.P.DEVADHAR,JJ. 10[th] NOVEMBER,2009 DATE : 1.Heard. Perused appeal. 2.The appeal is directed against the order dated 1[st] August, 2008. The Tribunal, in paragraph No.6 of its order, has recorded a finding of fact reading as under: 6.We have considered the submissions made by both the parties, material on record and orders of the authorities below. It is noted that at the time of filing of the return the provisions of Section 14A were not on statute, hence, the assessee cannot be expected to do impossible in view of retrospective legislation made subsequently. We also find that the assessee has disclosed all material facts and it is neither a case of concealment of income nor of furnishing of inaccurate particulars. Hence, we are of the opinion that the order of the Learned CIT (A) is correct in law. Accordingly, we confirm the same. Thus, ground raised by the Revenue for both the years is rejected. 3.The view taken by the Tribunal is a reasonable and possible view. We see no fault with the same. The appeal is, therefore, dismissed in limine for want of substantial question of law with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)