Itxa/1616/2016 Of The Pr. Commissioner Of Income Tax-1 v. Mahalaxmi Infra Projects Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1616 OF 2016 The Pr. Commissioner of Income Tax-1v/s. Mahalaxmi Infra Projects Ltd. .. Appellant .. Respondent Mr. N.N. Singh for the appellant Mr. Mihir Naniwadekar I/b Alisha Pinto for the respondent CORAM : AKIL KURESHI & M.S. SANKLECHA, J.J. P.C. DATED : 30[th] JANUARY, 2019 1.The Revenue has filed this appeal to challenge the judgment ofthe Income Tax Appellate Tribunal (“the Tribunal” for short) raisingfollowing substantial question for our consideration :- “(i)Whether on the facts and in the circumstances of the caseand in law, the Tribunal was right in deleting the additions madeby the AO on account of undervaluation of WIP for incomeearned by way of security deposit against material cost u/s153A?” 2.This question relates to the additions made by the AssessingOffice while passing order under Section 153A of the Income Tax Act, 1961. The Tribunal by the impugned judgment held that there was no incriminating material found during the search in relation to theadditions and the Tribunal, therefore, correctly deleted such additions. In the result, this question is not entertained. 3.The Income Tax appeal is dismissed. (M.S. SANKLECHA, J.) (AKIL KURESHI, J.)