Itxa/112/2013 Of Commissioner Of Income Tax - 5 v. M/S.litolier Properties Pvt.ltd

kps *1* IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.112 OF 2013 The Commissioner of Income Tax-5.-Versus-M/s Littolier Properties Pvt.Ltd.. ..Appellant ..Respondent ........... Mr.Abhay Ahuja, for the Appellant/ Revenue.Mr.Pankaj R. Toprani, for the Respondent/ Assessee. ........... CORAM: S.C. DHARMADHIKARIAND GIRISH S. KULKARNI, JJ. DATE :- 25[th] March, 2014 P.C.: 1Heard Mr.Ahuja, learned counsel appearing for the Appellant/ Revenue. He says that the Tribunal has erred in law in allowing deductions under Section 24 of the Income Tax Act, 1961 on account of discounting charges relating to the debentures issued by the Assessee. 2In all fairness, it is pointed out that this very question was projected as a substantial question of law by the Revenue in the Income Tax Appeal No.1056/2010 concerning the very Assessee. By the order passed by this Court on 08[th] November, 2011/ 02[nd] March, 2012, the Revenue's Appeal has been dismissed by this Court and for the Assessment Years 2001-2002 and 2002-2003. The Assessment Year in question is 2006-2007. Barring this difference in the assessment year, the position insofar as the Income Tax Appeal No.1056/2010 and the present Appeal is identical. 3In these circumstances we find no merit in the contentions of Mr.Ahuja that the High Court's order passed in the earlier Assessment Years is not on merits. This Court has assigned the reasons for not entertaining the Revenue's Appeal. The reasons are that the Revenue has accepted the findings for prior assessment years. These findings are essentially of fact. 4For all these reasons, we do not find any merit in this Appeal as it does not raise any substantial question of law. It is, accordingly, dismissed. No costs. (GIRISH S. KULKARNI, J.) (S.C. DHARMADHIKARI, J.)