Itxa/321/2009 Of The Commissioner Of Income Tax -Vi, Mumbai v. M/S Modern Terry Towels Ltd. , Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.321 OF 2009 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.321 OF 2009 The Comissioner of Income Tax ..Appellant. V/s. M/s.Modern Terry Towels Ltd. ..Respondent. Mr.J.S.Saluja for appellant. None for respondent. CORAM : V.C.DAGA ANDJ.P.DEVADHAR, JJ. DATED : 29TH APRIL, 2009. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 29TH APRIL, 2009. P.C. :- P.C. :- 1. Heard learned counsel for the revenue. The appeals seeks to raise the following questions of law:- 1) Whether on the facts and in the circumstances of the case, the ITAT is justified in law in allowing assessee’s claim of depreciation of Rs.1,25,84,594/- with regard to adjustment of written value of block assets from AY 95-96 onwards by relying on their earlier order for AY 1995-96 which has not been accepted by the revenue and appeal u/s.260 A is pending before the High Court ? 2) Whether on the facts and in the circumstances of the case, the ITAT is justified in law in holding that employees and employer’s contribution to P.F. if paid within grace period allowed under P.F. Act are allowable as deduction under the Income Tax Act ? - = : 2 : = - 2. Learned counsel for the revenue submits that the Tribunal has relied upon the earlier Judgment against which an appeal preferred came to be dismissed. In this view of the matter, he submits that so far as the first question is concerned, the appeal does not have any merit. 2. In so far as the second question is concerned, the Tribunal has allowed the payments made for the month of August, 2001 within the grace period. For the view taken by the Tribunal, we do not see any substantial question of law arise in this appeal. Appeal is dismissed in limini. (V.C.DAGA, J.) (V.C.DAGA, J.) (J.P.DEVADHAR, J.) (J.P.DEVADHAR, J.)