Itxa/5653/2010 Of The Commissioner Of Income-Tax-3,Mum v. M/S Industrial Development Bank Of India,Mum

AGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.2115 OF 2007 The Commissioner of Income- tax - 3, Mumbai ..Appellant. V/s. Industrial Development Bank of India, Mumbai ..Respondent. Mr.P.S. Sahadevan for the appellant. Mr.D. Vyas, senior counsel with Mr.Ajit Shah & Mr.P.C. Tripathi for the respondent. CORAM : V.C. DAGA & J.P. DEVADHAR, JJ. DATED : 7TH MAY, 2009. P.C. : 1. Heard learned counsel for the revenue. 2. The issue sought to be raised in the present appeal is with regard to limitation begins to run for invoking power under Section 263(1) explanation (c) of the Income Tax Act. The tribunal has relied on the judgment of the Madras High Court in the case of Commissioner of Wealth-tax V/s. A.K. thanga Pillai 252 ITR 260 (Mad). The said judgment has now been approved by the Supreme Court in the case of CIT V/s. Algendram Finance Limited reported in (2001) 252 ITR 260. 3. In this view of the matter, there is no substantial question of law involved in this appeal. The appeal, is therefore, dismissed. No order as to costs. (V.C. Daga, J.) (J.P. Devadhar, J.)