The Commissioner Of Income Tax – 9, Mumbai v. M/S.parle Biscuits Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.436 OF 2012 The Commissioner of Income Tax – 9, Mumbai Versus M/s.Parle Biscuits Private Limited ..Appellant. ..Respondent. Mr.Vimal Gupta, Senior Advocate with Ms.Padma Divakar for the appellant.Mr.P.J. Pardiwala, Senior Advocate with Mr.Atul K. Jasani for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 19[th] March 2013 P.C. : 1.In this appeal by the Revenue for assessment year 1999-2000, following question of law has been proposed for our consideration. “Whether on the facts and circumstances of the case, the Tribunal was correct in allowing the long terms capital loss arising out of indexation in the process of redemption of preference shares ?” 2.Counsel for the parties state that an identical issue for the assessment year 1998-99 was raised before this Court by the Revenue in Income Tax Appeal No.418 of 2012 in respect of the same respondent – assessee. This Court by order dated 6[th] February 2013 refused to entertain the proposed question of law, which is identical to the question raised herein. In view of the reasons stated in our order dated 6[th] February 2013, we see no reason to entertain the proposed question of law. 3.Accordingly, the appeal is dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)