Itxa/762/2011 Of Commissioner Of Income Tax - 1 v. Cipla Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.762 OF 2011 The Commissioner of Income Tax-Central-1..Appellant.V/s.M/s. Cipla Ltd...Respondent. Mr. Suresh Kumar, for the Appellant.Mr. Nitesh Jsani with Ms. Sarooj Jadhav i/b. Sanjay Udeshi & Co., 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 1996- 97, the following question has been raised for our consideration:- “Whether on the facts and in the circumstance of the case and in law the ITAT is perverse in accepting the valuation of a 15 years old boiler at Rs.1.75 Crores which is 5 times the WDV and 3 times the original cost?”. 3The counsel for the parties state that the issue arising in the present Appeal stands covered by our order rendered today in Income Tax Appeal No.740 of 2011 in respect of the same Respondent-Assessee for the Assessment Year 1995-96. 4Therefore, for the reasons contained in the order passed in Income Tax Appeal No.740 of 2011, we see no reason to entertain the proposed question of law. 5Accordingly, Appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)