Itxa/85/2009 Of The Commissioner Of Income Tax -3, Mumbai v. M/S Concast (India) Ltd., Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.85 OF 2009 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.85 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. M/s.Concast (India) Ltd. ..Respondent. Mr.Vimal Gupta for appellant. Ms.A.Vessanji with S.J.Mehta i/b. S.P.Mehta for respondent. CORAM : V.C.DAGA ANDJ.P.DEVADHAR, JJ. DATED : 24TH APRIL, 2009. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 24TH APRIL, 2009. P.C. :- P.C. :- 1. Heard learned counsel for the revenue and learned counsel appearing for the respondent. The appeal seeks to raise the following questions of law:- 1) Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in confirming the order of CIT(A) in deleting the addition of Rs.12.11 lakhs representing exchange rate difference ? 2) Whether on the facts and in the cicumstances of the case, the Tribunal was justified in law in confirming the order of CIT(A) in deleting the addition of Rs.50 lakhs ignoring the irregularities pointed out by the AO in the accounting method before invoking provisions of section 145(3) of the Act ? - = : 2 : = - 2. Th first question is relating to the additions confirmed by the order of CIT(A). The view taken by the Tribunal is relating to section 43A of the I.T. Act. So far as the second question is concerned, it relates to the acceptance of the method of accounts relating to the accounting system. The findings recorded by the Tribunal is based on the appreciation of evidence. Hence no substantial question of law arise in the appeal. Appeal is, therefore, dismissed in limin. (V.C.DAGA, J.) (V.C.DAGA, J.) (J.P.DEVADHAR, J.) (J.P.DEVADHAR, J.)