Commissioner Of Income Tax v. M/S.carol Info Services Ltd

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1250 OF 2009 Commissioner of Income Tax Vs. M/s.Carol Info Services Ltd. ..Appellant ..Respondent Mr.P.S.Sahadevan for appellant.Mr.P.Pardiwalla, Senior Advocate a/w.Mr.A.K.Jasani for respondent. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. 11TH AUGUST, 2009 DATE : P.C. Heard. 2.So far as first question is concerned, it relates to the deletion of addition of Rs.3,15,65,437- and Rs.1,65,87,909/- for A.Y.1998-99 and 2000-01 respectively. The Tribunal, after having heard both the parties, recorded a finding that the transactions which are recorded in the books of account are disclosed in the return of income and examined by the Assessing Officer, cannot be treated as undisclosed income in block assessment and can be considered only in a regular assessment. 3.So far as second question is concerned, it relates to the deletion of addition of Rs.1,44,75,300/- and Rs.38,75,100/- for A.Y.1998-99 and 2000-01 respectively, and the Tribunal has recorded the finding that once the transactions are recorded in the books of account and considered in regular assessment, there is no scope for the same to be again considered in a block assessment. In other words, consideration of both the questions are identical. The third question relates to the deletion of addition of Rs.15,20,265/- on account of foreign travel expenses. The Tribunal has given the same reasons which are to be found in paragraph No.18 of the impugned order, which reads as under: 18...................... In our opinion, when the foreign traveling expenses are disclosed in the regular returns, and therefore any disallowance whatsoever can be considered only in the regular assessment and can not be the part of the block assessemnt. 4.Having taken the survey of the findings and the reasons recorded by the Tribunal, no perversity or infirmity could be demonstrated by the learned Counsel for the Revenue. The view taken by the Tribunal is a reasonable and possible view. In this view of the matter, appeal stands dismissed for want of substantial question of lawwith no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)