Itxa/1854/2010 Of The Commissioner Of Income Tax -Iv Mumbai v. Avalon Investment Pvt Ltd

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1854 OF 2010 The Commissioner of Income Tax-IV, Mumbai..Appellant. V/s. Avalon Investment Pvt. Ltd. ..Respondent. Mr. Vimal Gupta i/b. Ms. Padma Divakar for the appellant.Ms. Beena Pillai for the respondent. CORAM : J.P. DEVADHAR AND A.A.SAYED, JJ.DATED : 27TH JULY, 2011 P.C. :- 1.Whether the ITAT was justified in deleting the addition of Rs.30,00,000/- made as undisclosed income in the block assessment order passed under Section 158BD of the Income Tax Act, 1961, is the question raised in this appeal. 2.The ITAT in para 7 of its order has recorded finding of fact that in the present case a sum of Rs.30,00,000/- was reflected in the books of accounts maintained by the assessee and was also reflected in the regular return filed by the assessee. In such a case, the deletion of the addition in the block assessment cannot be faulted. The appeal is dismissed with no order as to costs. (A.A. SAYED, J.) (J.P. DEVADHAR, J.)