Itxa/749/2004 Of The Commissioner Of Income-Tax,City-Vii,Mumbai v. M/S Bhansali International Pvt.ltd

sbw *1* IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.749 OF 2004 Commissioner of Income Tax ..Appellant -Versus-M/s. Bhansali International Pvt. Ltd. ..Respondent ........... Mr. Suresh Kumar for the Appellant.Mr. A. K. Jasani for the Respondent. ........... CORAM: S.C. DHARMADHIKARIAND A. K. MENON, JJ. DATE :- 24[th] SEPTEMBER, 2014 P.C.: 1]In the light of the Income Tax Appeal No.749 of 2004, this Appeal was admitted by this Court on a substantial question of law and formulated in para-5, the Appeal was admitted particularly because of the pending Reference to this Court. 2]Having heard Mr. Suresh Kumar, learned counsel, appearing for the Revenue and Mr. Jasani, learned counsel, appearing on behalf of the Assessee, we find that the question of law at page 5 of the present Appeal have already been answered by this Court in the case of Commissioner of Income Tax V/s. J. K. Investors Ltd. reported in 248 ITR 743. The very 1/2 same issue was subject matter of Income Tax Appeal No.1226 of 2008 filed by the Revenue. The very Assessee was before this Court in that Appeal as well. Following the judgment of Commissioner of Income Tax V/s. J.K. Investors Ltd., Appeal has been disposed of. 3]We would, therefore, follow the Division Bench judgment in the case of Commissioner of Income Tax V/s. J.K. Investors Ltd. (supra), the order in the case of the very Assessee in Income Tax Appeal No.1226 of 2008 dated 23[rd] September, 2009 and proceed to held that the substantial question of law as formulated in this Appeal is answered against the Revenue and in favour of the Assessee. The Appeal is, therefore, dismissed accordingly. No costs. (A. K. MENON, J.) (S.C. DHARMADHIKARI, J.) wadhwa 2/2