Itxa/1615/2012 Of The Commissioner Of Income Tax - 10 v. M/S. Koch Chemical Technology Group P Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1615 OF 2012 … Commissioner of Income Tax-10...Appellantv/s.M/s.Koch Chemical TechnologyGroup Pvt.Ltd....Respondent … Mr.Arvind Pinto for the Appellant.Mr.K.Gopal with Ms.Neha Paranjape i/b Jitendra Singh for the Respondent. ... CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 4 DECEMBER 2014 P.C. This Appeal by the Revenue challenges the order passed by the Income Tax Appellate Tribunal, Mumbai Bench in Income Tax Appeal No.6908/M/2010 and Cross-objection No.198/M/2011. The Assessment Year is 2003-04. 2. The return of income was filed by the Assessee declaring the loss. The original assessment was completed on 20 March 2006 assessing total income at Rs.1,32,36,720/-. The assessment was reopened under section 147 of the Income Tax Act, 1961 by issue of notice under section 148 of that Act, dated 16 February 2009. The reasons for reopening the assessment has itxa-1615-12.doc been set out in para 2 of the Tribunal's order, and one of the ground on which the same was reopened came to be questioned before this Court in Income Tax Appeal No.1443 of 2012 decided on 28 November 2014 and Income Tax Appeal No.1714 of 2011 decided on 5 March 2013. 3.There was a dis-allowance made of goodwill of the Assessment Year 2005-06 and which was not upheld by this Court. In such circumstances and when the reopening has been done after four years from the end of the relevant assessment year, then, the Tribunal was justified in dismissing the Revenue's Appeal. The reasons assigned in para 7 of the Tribunal's order, therefore, do not raise any substantial question of law. Following our earlier orders, the Appeal is dismissed. No costs. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)