In Commissioner Of Income Tax v. M/S.indian Trading Corporation, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: In this view of the matter, both the appeals stand dismissed in limine for want of substantial question of law with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L)NO.2468 OF 2009
WITH
INCOME TAX APPEAL (L)NO.2469 OF 2009
Commissioner of Income Tax
Vs.
M/s.Indian Trading Corporation
..Appellant
..Respondent
Mr.A.S.Shivsharan for appellant.
None for respondent.
P.C.1.Heard.
Perused appeals.
CORAM :- V.C.DAGA &J.P.DEVADHAR,JJ. 10[th] NOVEMBER,2009
DATE :
2.The question sought to be raised in the appeal has already been considered by the Tribunal in paragraph No.7 of its order and has recorded a positive finding of fact that financing to the sister concern is a commercial expediency. The finding of fact is based on the circumstances available on record and proper appreciation thereon. In this view of the matter, both the appeals stand dismissed in limine for want of substantial question of law with no order as to costs.
(J.P.DEVADHAR,J.)
(V.C.DAGA,J.)
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