The Commissioner Of Income-Tax – 9, Mumbai v. M/S.rajhans Metals Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.1285 OF 2008 The Commissioner of Income-tax – 9, Mumbai ..Appellant. Versus M/s.Rajhans Metals Private Limited ..Respondent. Mr.P.S. Sahadevan i/by J.S. Saluja for the appellant.None for the respondent. CORAM : V.C. DAGA &J.P. DEVADHAR, JJ. DATE : 22nd JUNE, 2009 P.C. : 1.Appellant is directed to remove office objections, if any, and serve unserved respondent within four weeks from today. Hamdust allowed. In addition to hamdast service, private service by R.P.A.D.A / Speed post is permitted. Failure on the part of the appellant to remove office objections and / or to serve unserved respondent, appeal shall stand dismissed against the unserved respondent without reference to the Court. 2.In the event of removing office objections by the appellant, registry is directed to register the appeal. In that event, appeal shall be treated as admitted on following substantial question of law : “Whether in the facts and in the circumstances of the case and in law, the Tribunal erred in holding that the provisions of Sec.41(2) of the Income Tax Act are not applicable in the present case and hence, the sum of Rs.2,25,37,301/- received from insurance company cannot be assessed to tax by invoking provisions of Section 41(2) ? 3.In so far as second question of law is concerned, the learned counsel for the revenue fairly states that the same is covered by the Judgment of this Court. Hence, he is not pressing the appeal on that question. The appeal is therefore dismissed on that question. (J.P. Devadhar, J.) (V.C. Daga, J.)