Itxa/9/2012 Of The Commissioner Of Income Tax -10 v. Heidelberge Cement India Ltd

kps IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.9 OF 2012 The Commissioner of Income Tax...Appellant-Versus-M/s Heidelberge Cement India Ltd....Respondent ........... Mr.Tejveer Singh, for the Appellant/ Revenue.Ms.Anushka Sharda i/by Mustafa Banatwala, for the Respondent/ Assessee. ........... CORAM: S.C. DHARMADHIKARIAND B.P. COLABAWALLA, JJ. DATE :- 16[th] June, 2014 P.C.: 1This Appeal challenges the order passed by the Income Tax Appellate Tribunal 13.05.2011 in ITA No.2336/Mum/2010. The Assessment Year in question is 2004-2005.2We have heard Mr.Tejveer Singh, learned counsel appearing in support of this Appeal and with his assistance we have perused the impugned order. There is a clear finding of fact that the reopening of assessment is not sustainable. It was only based on change of opinion. This is the finding of fact in relation to the issue raised before the Tribunal. That is Foreign Exchange Fluctuation Gain and Foreign Exchange Fluctuation Loss. From paragraphs 5.1 onwards the Tribunal has considered these aspects in detail and found that the assessment has been reopened only on change of opinion. Such findings of fact and when they are not vitiated by any error of law apparent on the face of record or perversity, cannot be made a subject matter of Appeal under Section 260A of the Income Tax Act, 1961. Therefore, this Appeal does not raise any substantial question of law. It is dismissed, but without any order as to costs. (B.P. COLABAWALLA, J.) (S.C. DHARMADHIKARI, J.)