Director Of Income Tax v. Bank Of America Nt & Sa

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1809 OF 2009 Director of Income Tax Vs. Bank of America NT & SA ..Appellant ..Respondent Mr.Suresh Kumar for appellant. Mr.P.J.Pardiwalla, Senior Advocate with Ms.V.B.Patel for respondent. P.C. 1.Heard. Perused appeal. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. 5TH DECEMBER,2009 DATE : 2.So far as first question is concerned, it relates to the expenditure in the nature of share issue and the same was not pressed by learned Counsel for the appellant in ITXA No.451 of 2008, therefore, the first question can hardly be said to be a substantial question of law and second question is covered by the judgment of this Court in the case of 258 ITR 601 against the revenue and in favour of the assessee. So far as third question is concerned, the same is covered in the case of Director ofIncome Tax (International Taxation) V/s. M/s.Oman International Bank reported in [2009] 313 ITR 128 (Bom). 3.In the above view of the matter, the appeal stands dismissed in imine with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)