Itxa/418/2012 Of The Commissioner Of Income Tax -9 v. M/S. Parle Biscuits Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.418 OF 2012 The Commissioner of Income Tax-9..Appellant.V/s.M/s. Parle Biscuits Pvt. Ltd...Respondent. Mr. Vimal Gupta, Sr. Advocate i/b. Padma Diwakar, for the Appellant.Mr. P. J. Pardiwala, Sr. Advocate i/b. A. K. Jasani, for the Respondent. P.C:- CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 6[th] FEBRUARY, 2013. Heard. 2In this Appeal by the Revenue for the Assessment Year 1998-99, the following question of law has been raised for our consideration:- “Whether on the facts and circumstances of the case, the Tribunal was correct in allowing the long term capital loss of Rs.35,58,718/- on account of redemption of preference shares?” 3Since the Tribunal in the impugned order has allowed the claim of the Respondent-Assessee by following the decision of the Apex Court in the matter of Anarkali Sarabhai v/s. Commissioner of Income S.R.JOSHI1 of 2 Tax, reported in 224 ITR 422, we see no reason to entertain the proposed question of law. Accordingly, appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)