Itxa/1136/2012 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.1136 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. DHARMADHIKARI AND A. A. SAYED, JJ. DATE :- 30[th] OCTOBER, 2014 P.C.: Having heard Mr. Pinto, learned counsel, appearing on behalf of the Revenue in support of this Appeal, which challenges the order passed by the Tribunal and common to several Appeals dated 31[st] March, 2011, we are of the opinion that the Tribunal has only applied the factual findings rendered earlier to the assessment years in question. It has in the peculiar facts and circumstances which have been brought to its notice held that the additions which were made by the Assessing Officer and partly sustained by the Commissioner would have to be deleted. The Tribunal has assigned cogent reasons for coming to this conclusion. It has also applied the correct legal principles. In such circumstances, the Tribunal's order does not raise any substantial question of law. More so, when it is conceded that out of the 5 questions termed as substantial question of law at pages 4 and 5 questions (A), (B) and (E) are already answered in favour of the Assessee and against the Revenue. The only surviving questions (C) and (D) have been dealt with by the Tribunal and for the reasons assigned by it which are not perverse or vitiated by any error of law apparent on the face of the record, that we are of the opinion that this Appeal is without any merit. It is, accordingly, dismissed. No orders as to costs. (A. A. SAYED, J.) (S.C. DHARMADHIKARI, J.) wadhwa 2/2