Rajkumar Surekha v. The Income-Tax Officer, Ward 17(10), Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 378 OF 2005 Rajkumar Surekha Versus The Income-Tax Officer, Ward 17(10), Mumbai ).. Appellant ).. Respondent Ms Aasifa Khan for the Appellant. CORAM:SWATANTER KUMAR, C. J. & A.P. DESHPANDE, J.DATED: 20TH AUGUST 2008. P.C. The Appellant took exception to the order passed by the Income Tax Appellate Tribunal dated 5[th] November 2004 in the presentAppeal filed under Section 260A of the Income Tax Act, 1961. By adetailed order, the Tribunal had partially allowed the Appeal filed by theAssessee-Appellant as well as the Department. The Assessee in thepresent Appeal is aggrieved from the fact that sum of Rs.10 lakhs whichwas in the nature of security deposit as per the directions of the HighCourt to the Customs authorities could not have been computed for thepurpose of determining the tax liability for the current year andaccording to the learned Counsel the same could be subjected to tax when the refund was given. 2.We have perused the order of the Tribunal. The approachadopted is inconsonance with the basic principles of law and noquestion of law, much less substantial question of law, arises forconsideration in the present Appeal. The amount of Rs.10 lakhs hadbeen deposited by the Appellant to secure their own interest. Appealdismissed. No order as to costs. CHIEF JUSTICE A. P. DESHPANDE, J.