In The Commissioner Of Income Tax-4 v. M/S. Smart Investment Consultants, the High Court (2008) dismissed the appeal. The decision went in favour of the assessee.
Decision: Therefore, wedo not find any merits in this appeal as no substantial question of law arises.Accordingly, the appeal is dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 554 OF 2007
The Commissioner of Income Tax-4...........Appellant. VersusM/s. Smart Investment Consultants. ..........Respondent.
Mr. Vimal Gupta for the Appellant. None for the Respondent.
P.C.:
CORAM :BILAL NAZKIandA. A. KUMBHAKONI, JJ.DATED :24TH SEPTEMBER, 2008.
The Tribunal has held that certain amounts were bad debts and theorder that these debts be written off, passed by the Commissioner, was right.The appeal has been filed on the ground that what was written off was notthe bad debts but was a business loss. This essentially is a question of fact. Ithas been decided by the Tribunal as well as the Commissioner. Therefore, wedo not find any merits in this appeal as no substantial question of law arises.Accordingly, the appeal is dismissed.
Sd/-
(BILAL NAZKI, J.)
Sd/-
(A. A. KUMBHAKONI, J.)
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