The Commissioner Of Income Tax – I, Kolhapur v. Marvelous Metals Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.6156 OF 2010 The Commissioner of Income Tax – I, Kolhapur ..Appellant. Versus Marvelous Metals Private Limited..Respondent. Mr.Vimal Gupta for the appellant. CORAM : J.P. Devadhar &A.R. Joshi, JJ. DATE : 16th November 2011 P.C. : 1.Whether the Income Tax Appellate Tribunal was justified in holding that the wastage claimed by the assessee at 10.90% was proper instead of the wastage computed by the assessing officer at 7..43% of the production is the question raised in this appeal. 2.The Income Tax Appellate Tribunal in para-4 of its order has recorded a finding of fact that the assessee has furnished number of documents to demonstrate on the basis of which the production could be correctly ascertained and tallied with the stock. Accordingly, the Income Tax Appellate Tribunal has recorded a finding of fact that the wastage computed by the assessee was proper and the assessing officer was not justified in computing the wastage on an estimate basis. 3.The decision of the Income Tax Appellate Tribunal is based on finding of fact. No substantial question of law arises from the order of the Income Tax Appellate Tribunal. Accordingly, the appeal is dismissed with no order as to costs. (A.R. Joshi, J.) (J.P. Devadhar, J.)