Itxa/1579/2011 Of The Commissioner Of Income Tax -19 v. Wellworth Laboratories

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1579 OF 2011ANDINCOME TAX APPEAL NO.1580 OF 2011 The Commissioner of Income Tax-19, Mumbai ..Appellant. V/s. M/s. Wellworth Laboratories (since merved with Novamad PharmaceuticalsPvt. Ltd.)..Respondent. Mr. Tejveer Singh i/b. Suresh Kumar for the appellant. Ms. Vasanti B. Patel for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 28TH JANUARY, 2013 P.C. :- 1.The following question of law has been raised by the revenue in these appeals :- “ Whether on the facts and circumstances of the case and in law, the Tribunal is right in law in holding that the CIT was not justified in exercising his power u/s.263 of the I.T. Act, 1961 ? ” 2.Counsel for the parties state that the question raised in this appeal stands answered against the revenue by the decision of this Court in the case of CIT V/s. M/s. Wimco Pen Company [Income Tax Appeal No.658 of 2008] decided on 14[th] October, 2008. For the reasons stated in the said order, these appeals are also dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)