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Itxa/1311/2010 Of The Commissioner Of Income Tax -10, Mumbai v. M/S Saraldisha Investment Ltd. , Mumbai
Date of order
07 Jul 2009
Assessment year(s)
—
Outcome
Other
In Itxa/1311/2010 Of The Commissioner Of Income Tax -10, Mumbai v. M/S Saraldisha Investment Ltd. , Mumbai, the High Court (2009) decided the matter.
Decision: Under these circumstances, considering the finding of fact recorded by the Tribunal, we see no substantial question of law involved in this appeal.Appeal is, therefore, dismissed in limine with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (LDG) NO. 3245 OF 2008
The Commissioner of Income-tax-,
... Appellant.
V/s.
M/s.Saraldisha Investment Ltd.... Respondent.
Jitendra Singh for the respondent.
P.C. :
Heard. Office objections are overruled. Registry to register the appeal. Appeal is taken up for hearing.
2.The issue sought to be raised in this appeal revolves around interpretation of section 40-A(2) of the Income Tax Act. The Tribunal has taken into account factual aspects and reached to the conclusion that the assessee has purchased the shares at the price which was very nearest to the book value. Under these circumstances, considering the finding of fact recorded by the Tribunal, we see no substantial question of law involved in this appeal.Appeal is, therefore, dismissed in limine with no order as to costs.
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