The Commissioner Of Income Tax-Iv v. Weikfield Products Co. (India) Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.772 OF 2011 The Commissioner of Income Tax-IV. ..Appellant. v. Weikfield Products Co. (India) Pvt. Ltd...Respondent. Mr. Vimal Gupta, Sr. Advocate i/by Padma Divakar for the Appellant. None for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 22ND JANUARY, 2013 PC: In this appeal for assessment year 2004-05 the revenue has proposed following question of law for our consideration. Whether in facts, in law and in the circumstances of the case the Tribunal is justified in allowing the entire interest of Rs.69,62,816/- inspite of the clear working by the CIT(A) and allowing the balance amount after considering the portion of interest of Rs.29,22,293 as funds advanced interest free to the sister concerns out of interest bearing borrowed funds? 2)The Tribunal in the impugned order has allowed the claim of the respondent assessee on the question proposed in this appeal by following its decision in the assessee's own case for assessment years ASN 2000-01 and 2003-04. We are informed that no appeal has been filed against the order of the Tribunal for assessment year 2000-01 and 2003-04.Therefore, the order of the Tribunal for assessment years 2000-01 and 2003-04 has attained finality. There are no distinguishing feature pointed out for the assessment year 2004-05 which warrant taking a different view then that taken for assessment year 2000-01 and 2003-04. In the circumstances, 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.)