In The Commissioner Of Income Tax-19 v. M/S Monarch Gems, the High Court (2017) dismissed the appeal. The decision went in favour of the assessee.
Decision: 783 of 2014, the present appeals also stand dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Dusane
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.108 OF 2015
The Commissioner of Income Tax-19....AppellantMumbai
Vs.
M/s Monarch Gems....RespondentMumbai
WITH
INCOME TAX APPEAL NO.109 OF 2015
The Commissioner of Income Tax-19....AppellantMumbai
Vs.M/s R.T. Star Diamonds....RespondentMumbaiMr. Sham Walve, Advocate for the Appellant.
CORAM : S.V. GANGAPURWALA AND G.S. KULKARNI, JJ.
DATE : 9 JUNE, 2017
Dusane
PER COURT :
The present appeals relate to Assessment Year 2009-2010.
2The learned counsel fairly concedes that the grounds raised in these appeals were similar to the once raised in Income Tax Appeal No.783 of 2014 and the said appeal is dismissed by this Court.
3In light of the above and for the reasons stated in the order dated 5th December, 2016 in Income Tax Appeal No. 783 of 2014, the present appeals also stand dismissed. No costs.
( G.S. KULKARNI, J.)
(S.V. GANGAPURWALA, J.)
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