The Commissioner Of Income Tax-V v. Rajkumar Ram Panjab

bsb 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1538 OF 2013 The Commissioner of Income Tax-V … Appellant v/s Rajkumar Ram Panjab … Respondent Mr.Tejveer Singh for the appellant. Mr.Mihir C. Naniwadekar for the respondent. CORAM: M.S. SANKLECHA & N.M. JAMDAR, JJ. DATED : 16TH JUNE, 2015 P.C.: This appeal by the revenue challenges the common order dated 31 October 2012 disposing of 25 appeals. 2The question proposed by the revenue for our consideration is as under :- “Whether on the facts and in circumstances of the case andin law the Tribunal was justified in only considering certain specific issues relating to purchase of penny stock as relevant and restoring the same to Assessing Officer for deciding the issue, when other material facts brought on record by the Assessing Officer and bsb 2 Commissioner of Income Tax (Appeals) clearly shows that the transaction of long term capital gain shown were not genuine.” 3Mr.Tejveer Singh, learned counsel appearing for the revenue fairly states that appeals filed by other parties whose appeals were also disposed of by the common impugned order dated 31 October 2012 of the Tribunal have been dismissed by this Court. In support he tenders a copy of order dated 8 April 2015 of this Court dismissing Income Tax Appeal Nos.1486 of 2013, 1569 of 2013, 1589 of 2013, 1591 of 2013, 1617 of 2013, 1432 of 2013, 1504 of 2013, 1435 of 2013, 1584 of 2013 and 483 of 2013. 4In the above view, no substantial question of law arises in the present appeal. Accordingly, the present appeal is also dismissed. ( N. M. JAMDAR, J. ) ( M.S. SANKLECHA, J.)