The Commissioner Of Income Tax - 4, Mumbai v. M/S.indian Corporation Financial

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2486 OF 2010 The Commissioner of Income Tax - 4, Mumbai Versus M/s.Indian Corporation Financial ..Appellant. ..Respondent. Mr.Vimal Gupta for the appellant.Dr.K. Shivram with Mr.P. Savla for the respondent. CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ. DATE : 24[th] June, 2011. P.C. : 1.Six questions of law have been raised by the Revenue in this appeal. 2.As regards first two questions are concerned, counsel for the Revenue states that both the questions are answered against the Revenue by the decision of the Apex Court in the case of T.R.F. Limited V/s. Commissioner of Income Tax reported in (2010) 323 ITR 397 (SC). Accordingly, first two questions cannot be entertained. 3.As regards, remaining four questions are concerned, ad-hoc disallowances of expenditure made by the assessing officer were deleted by the Tribunal on the ground that all the expenses were duly vouched and were open for verification. The Tribunal has recorded a finding of fact that if the assessing officer was not convinced with any particular expenses, he could have very well make disallowance, but, after verification. The assessing officer has no right to make disallowance on adhoc basis. We see no fault with the findings recorded by the Tribunal. The appeal is accordingly dismissed with no order as to costs. (Smt.R.P. Sondurbaldota, J.) (J.P. Devadhar, J.)