M/S.kimovanti Pvt.ltd v. I.t.o. Ward (I) Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.571 OF 2005 M/s.Kimovanti Pvt.Ltd... AppellantsVersusI.T.O. Ward (I) Mumbai.. RespondentMr.K.Gopal for appellants. CORAM :SWATANTER KUMAR, CJ. &A.P.DESHPANDE, J.DATE:10th September 2008 P.C. .We have heard the learned Counsel forappellant. We are afraid that no question oflaw, much less any substantial question of lawarises for consideration in the present case.The findings recorded by the Tribunal areprimarily based upon the factual matrix that allthrough out the Assessee has taken a stand or itwas implied that it has followed mercantilestandard. However, it is brought to our notice that the appellant was following cash system ofaccounting and thus he had already offered T.D.S.amount and the interest accrued for the relevantyear for tax. We are unable to disturb thisfinding. However, it is open to the assessee toraise this question in subsequent case inaccordance with law. No merits and dismissedaccordingly. ( CHIEF JUSTICE ) (A.P.Deshpande, J).