The Commissioner Of Income-Tax – 17, Mumbai v. M/S.synergy Fashions, Mumbai
High Court
22 Jun 2009 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income-Tax – 17, Mumbai v. M/S.synergy Fashions, Mumbai
Date of order
22 Jun 2009
Assessment year(s)
—
Outcome
Dismissed
Case summary
In The Commissioner Of Income-Tax – 17, Mumbai v. M/S.synergy Fashions, Mumbai, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: The appeal is thus dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L) NO.1271 OF 2008
The Commissioner of Income-tax – 17, Mumbai VersusM/s.Synergy Fashions, Mumbai
..Appellant.
..Respondent.
Mr.D.K. Kamwal for the appellant.None for the respondent.
CORAM : V.C. DAGA &
J.P. DEVADHAR, JJ.
DATE : 22nd JUNE, 2009
P.C. :
1.Heard learned counsel for the revenue. Office objections, if any are waived. Registry is directed to register the appeal. Taken up for hearing at this stage.
2.The only question sought to be canvassed is as to whether the interest received on Bank deposits was income from “business” and not “income from other sources”. The tribunal has recorded a finding of fact that the fixed deposits were made by the assessee with the bank as conditions to be complied with for availing credit facilities. Hence, the view taken by the tribunal cannot be faulted. In this view of the matter, no substantial question of law arises from the order of the tribunal. The appeal is thus dismissed with no order as to costs.
(J.P. Devadhar, J.)
(V.C. Daga, J.)
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