Itxa/1036/2012 Of The Commissioner Of Income Tax Central -Iii v. M/S. Virtuous Finance Ltd

sbw *1* IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1036 OF 2012 The Commissioner of Income Tax,Central-III ..Appellant -Versus-M/s. Virtuous Finance Ltd. ..Respondent ........... Mr. Arvind Pinto for the Appellant.Mr. P. J. Pardiwalla, Senior Advocate, i/b. Atul K. Jasani for the Respondent. ........... CORAM: S.C. DHARMADHIKARIAND A. A. SAYED, JJ. DATE :- 30[th] OCTOBER, 2014 P.C.: This Appeal also raises the same questions as are raised in the earlier Appeals and particularly identical to Income Tax Appeal No.1136 of 2012. 2]However, Mr. Pinto, learned counsel, pointed out that the Tribunal has in para 38.2 of the impugned order, referred to the lack of investigation or evidence. If that was the conclusion reached, then, the matter could have been sent back by the Tribunal for such investigation particularly because the last fact finding authority is the Income Tax Appellate Tribunal. 3]Therefore, this Appeal should be admitted as it raises a substantial question of law. 4]We are unable to agree with Mr. Pinto because the finding of fact in para 38.2 is that the Revenue's case could have been considered had there been any investigation resulting in collection of evidence with regard to the addition made on account of accrual in income from Shanu Deep Pvt. Ltd. Absent such investigation and evidence, the Tribunal was not obliged to sent the matter back and to permit the Revenue now to fill up the lacuna or defect, belatedly. Such approach of the Tribunal and in the given facts and circumstances, does not raise any substantial question of law. The Appeal is devoid of merits. For the reasons assigned in our order passed in Income Tax Appeal No.1136 of 2012 and these additional reasons, the Appeal fails. It is, accordingly, dismissed. No orders as to costs. (A. A. SAYED, J.) (S.C. DHARMADHIKARI, J.) wadhwa 2/2