Itxa/757/2009 Of The Commissioner Of Income Tax -25 Mumbai v. Shri Vipul J. Sheth

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.757 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. Shri Vipul J. Sheth ..Respondent. Mrs. Suchitra Kamble for appellant.None for respondent. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 6TH JULY, 2009. P.C. :- Heard learned counsel for the revenue. The question sought to be raised in this appeal is relating to the justification of deletion of the sum of Rs.27,37,500/- made on account of alleged unaccounted income from the sale of jewellery declared under VDIS, 1997. The Tribunal has taken a view that so long as certificate issued under section 68 of the VDIS is not cancelled and is holding the field, the department is precluded from treating the said certificate as not subsisting. Similar view also taken by this Court in the case of Uma Corporation V/s. Krishna Prabhakar, AssistantCommissioner of Income Tax & Ors. reported in (2006 ) 284 ITR 67 (Bom). In this view of the matter, no fault can be found with the order of the Tribunal. We find no substance in the appeal. The appeal is, therefore, dismissed with no order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA, J.)