The Commissioner Of Income Tax – 10, Mumbai v. Ganesh Polychem Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.259 OF 2013 The Commissioner of Income Tax – 10, Mumbai..Appellant. Versus Ganesh Polychem Limited..Respondent. Mr.Tejveer Singh for the appellant.None for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 19[th] March 2013 P.C. : Office objections waived. 2.In this appeal by the Revenue for assessment year 2005-06, following question of law has been proposed for our consideration. “Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that direct the AO allow deduction under Section 10B on profits of the current year without setting off the unabsorbed depreciation and brought forward business losses ?” 3.Counsel for the Revenue fairly states that the issue raised in the present appeal is concluded in favour of the assessee by the order of this Court dated 25[th] February 2013 in Income Tax Appeal (L) No.2083 of 2012 passed in respect of the same respondent – assessee for assessment year 2006-07. 4.In view of the above, we see no reason to entertain the proposed question of law. Accordingly, the appeal is dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)