Itxa/236/2005 Of The Commissioner Of Income Tax City-9, Mumbai v. M/S. Agastmuni Constuction Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.236 OF 2005 The Commissioner of Income- ... ... AppellantTax -9, Mumbai 2)The learned Tribunal has confirmed thefact recorded by Commissioner of Appeals that nointerest was paid by the purchaser of the flat tothe Assessee. Learned Tribunal has examined fourof the purchasers. Statement on behalf of theAssessee, one Motharam was also recorded. Boththe Commissioner of Income-Tax and the Income TaxAppellate Tribunal came to the conclusion thatthere was no material for ‘reasons to believe’.The proceedings were pursuant to the Notice underSection 148 2)Considering theconcurrent findingsrecorded in our opinion, no case is made out forinterference. The questions of law do not arise. 3)Appeal is dismissed. ( R.S. MOHITE, J.)