The Commissioner Of Income-Tax- 13, Mumbai v. M/S.khandhar Engineering Works, Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.794 OF 2005 The Commissioner of Income-tax- 13, Mumbai Versus M/s.Khandhar Engineering Works, Mumbai ..Appellant. ..Respondent. Mr.A.S. Shivsharan for the appellant. Mr.Bharat L. Gandhi with Mr.K.C. Pandey for the respondent. CORAM : Dr.D.Y. Chandrachud & J.P. Devadhar, JJ. DATE : 17 June, 2010. P.C. : 1.The following question of law is raised in the appeal by the Revenue under Section 260A of the Income Tax Act, 1961. “The substantial question of law which arises in the present appeal is regarding the correct interpretation of Section 68 of the Income Tax Act and whether in the facts and circumstances of the case and in law, the Tribunal is right in deleting the additions made by the Assessing Officer of Rs.19,29,434/- under Section 68 of the Act ?” 2.The Tribunal has noted that the amounts in question have been brought to tax in the hands of Shri Surendra M. Khandhar in the assessment orders for earlier years. The attention of the Court has been drawn to an order passed by the Division Bench on 5 October 2009 in Commissioner of Income Tax V/s. Bharati S. Khandhar (Income Tax Appeal No.150 of 2005) which was disposed of by the Division Bench in terms of an affidavit filed by Shri Surendra M. Khandhar. The Counsel appearing on behalf of the assessee and the Counsel appearing on behalf of the Revenue are agreed in stating before the Court that the facts of this appeal are similar, and that the appeal may be disposed of in terms of the previous order of the Division Bench dated 5 October 2009. 3.An affidavit of Shri Surendra M. Khandhar (duly corrected and signed by the Counsel for the assessee) has been tendered before the court by Shri K.C. Pandey, Counsel for the assessee, in which it has been stated that Shri Surendra M. Khandhar has accepted the additions of the peak of all the parties, marked as Annexure 3, of 110 bank accounts which includes an addition of Rs.19,29,434/- made in pursuance of the order passed by the Tribunal. It may be noted that in the impugned order passed by the Tribunal also it has been observed that the addition made by the Revenue stands confirmed in the hands of Shri S.M. Khandhar and that the issue stands covered by the orders of the Tribunal in two cases as noted in the impugned order. 4.In view of the decision of the Division Bench dated 5 October 2009 and the affidavit filed by Shri S.M. Khandhar in these proceedings, the appeal will not give rise to any substantial question of law. The appeal is accordingly dismissed. There shall be no order as to costs. (J.P. Devadhar, J.) (Dr.D.Y. Chandrachud, J.)