The Commissioner Of Income-Tax-13, Mumbai v. M/S.indus Engg. Co., Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION I.T. APPEAL NO. 1139 OF 2004 The Commissioner of Income-tax-13, Mumbai.. ......Appellant. V/sM/s.Indus Engg. Co., Mumbai........... ......Respondent.Mr.Vimal Gupta i/by Mr.Pankaj Kapoor, Adv. for the appellant.Mr.Pramod Kumar Parida, Adv. For the respondent. CORAM:SWATANTER KUMAR, C.J. &A.P.DESHPANDE, J.DATED: 15[th] JULY, 2008. PC: The contention raised before us on behalf of the departmentwhile impugning the order of the Income Tax Appellate Tribunaldated 31.5.04 is that the provisions of section 41A of the Income TaxAct would be applicable to the present case and therefore the amountsindicated by the assessee to the extent of Rs.9,46,573/-ought to havebeen treated as income. However the finding recorded by theTribunal and the CIT(A) are to the contrary and not sustainable inlaw. We do not consider it necessary to go into this question at allparticularly in view of the fact as recorded in the order of the IncomeTax Appellate Tribunal : “Moreover the assessee in subsequent years has treatedthe above mentioned amount as its income by crediting the same to profit and loss account or disclosing the same underVDIS Scheme. For this reason also, we are of the opinion thataddition has been wrongly made for the year underconsideration in the hands of the assessee. Therefore, we allowthis ground.” The determination of amount and question of law in the present caseaccording to the learned counsel for the assessee does not arise andhave been correctly decided by the Tribunal would be purelyacademic. No merits. Hence appeal stands dismissed. CHIEF JUSTICE (A.P.DESHPANDE, J.)