The Commissioner Of Income Tax – 5, Mumbai v. M/S.miranda Distributors Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.3415 OF 2010 The Commissioner of Income Tax – 5, Mumbai..Appellant. Versus M/s.Miranda Distributors Private Limited ..Respondent. Mr.Abhay Ahuja for the appellant.None for the respondent. P.C. : CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 22[nd] October 2012 1.Two questions of law are raised by the Revenue in this appeal, which reads thus : a)Whether on the facts and circumstances of the case and in law, the ITAT is right in law in upholding the CIT (A)'s order that no specific defect was found in the books of accounts of the assessee and that Section 145 of the Income Tax Act, 1961 was not applicable to the present case ? b)Whether on the facts and circumstances of the case and in law, the ITAT is in law in not allowing the apportioning of expenses to share trading activity based on turnover of the share trading activity vis-a-fix total turnover? 2.Counsel for the Revenue states that the first question does not arise out of the order of the Income Tax Appellate Tribunal. 3.As regards second question is concerned, from the order of the Tribunal it is seen that no such dis-allowances were made in the assessment years 1996-1997 and 1997-1998. Moreover, in assessment year 2001-2002 the dis-allowance made by the assessing officer was deleted by the Income Tax Appellate Tribunal and no appeal has been preferred against the decision of the Income Tax Appellate Tribunal for assessment year 2001-2002. In these circumstances, we see no reason to entertain this appeal relating to assessment year 2000-2001. 4.The appeal is accordingly dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)