M/S. Forture Holdings Pvt. Ltd v. Merit In The Aforesaid Appeals And The Same Are

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL LODGING NO.2282 OF 2008WITHINCOME TAX APPEAL LODGING NO.2283 OF 2008WITHINCOME TAX APPEAL LODGING NO.2289 OF 2008..Appellant.Vs...Respondent. The Commissioner of Income Tax.Vs. M/s. Forture Holdings Pvt. Ltd. Mr. B.M.Chatterji with P.S.Sahadevan for the Appellant. Mr. A.K. Jasani for the Respondent. CORAM : F.I. REBELLO &R.S. MOHITE, JJ.DATE : 17TH MARCH, 2009 PC :1. Revenue is in appeal in terms of the questionsformulated in Paras 5.1 and 5.2 of the appeal memos.The questions in these appeals are in respect ofinterpretation of the provisions of Explanation 3 toSection 271(c) of the Income Tax Act, 1961. Thisquestion was in issue before this court in the case ofCommissioner of Income Tax, Central-II Vs. M/s.Growmore Research & Asset Management Ltd. Mumbaidecided on 10.2.2009. We have taken a view that thesaid provision would not apply in respect of theassessee who has already filed returns but only appliesto new assessee. Considering the above, there is no merit in the aforesaid appeals and the same are accordingly dismissed. (R.S. MOHITE, J.)