Itxa/854/2011 Of The Commissioner Of Income Tax-3 Mumbai v. Icici Bank Ltd

itxa854-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.854 OF 2011 The Commissioner of Income Tax-3, Mumbai ..Appellant. V/s. ICICI Bank Ltd...Respondent. Mr. Vimal Gupta, senior Advocate with Ms. Padma Divakar for the appellant. Mr. S.P. Mehta for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 17TH DECEMBER, 2012 P.C. :- 1.The question of law raised by the revenue in this appeal reads thus:- “ Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the notice for reopening of assessment issued u/s.148 of the Income Tax Act was bad in law as the notice was based on mere change of opinion even though the assessment was reopened within a period of four years and the record shows that the assessee company had claimed excess deduction u/s.36(1)(viii) of the Income Tax Act on income which included non fund base income and income from short term finance ?” 2.Counsel for the parties state that similar question raised by the revenue in assessee's own case in Income Tax Appeal No.1237 of 2011 has been decided against the revenue on 9[th] July, 2012. For the reasons stated therein, the present appeal is also dismissed. No order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)