Itxa/2240/2009 Of The Commissioner Of Income Tax-13, Mumbai v. Shri Vijay Nagindas Mehta.. Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2240 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. Shri Vijay Nagindas Mehta ..Respondent. Mr.A.S.Shvsharan for appellant. Mr. Sanjiv M. Shah for respondent. CORAM : DR. D.Y.CHANDRACHUD AND J.P.DEVADHAR, JJ. DATED : 4TH FEBRUARY, 2010 P.C. :- The issue in the appeal against the judgment of the ITAT relates to he deletion of the addition made by the Assessing Officer of an amount of Rs.40 lacs. The ITAT has noted that the assessee has reconciled the discrepancies noted during the survey. The Tribunal held that a mere statement made during the course of survey should not be the sole basis for making a addition, when the discrepancies were properly explained by the assessee. The view taken by the Tribunal does not raise any substantial question of law. The appeal is accordingly dismissed. (J.P.DEVADHAR, J.) (DR. D.Y.CHANDRACHUD, J.)