The Commissioner Of Income Tax v. Income Tax Settlement Commission & Anr

abs IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO. 1119 OF 2009 The Commissioner of Income Tax .. Petitioner V/s Income Tax Settlement Commission & Anr... Respondents Mr. G.C. Srivastava i/b Ms. Anamica Malhotra for the petitioner. Mr. S.E. Dastur, Senior Advocate with Mr.P.J. Pardiwala, Senior Advocate, Mr. Nishant Thakkar and Mr. B.D. Damodar i/b Kanga & Co. for respondent no.2. CORAM : F.I. REBELLO & D.G. KARNIK, JJ. DATE : 24TH AUGUST 2009 P.C.: 1.The only argument advanced on behalf of the petitioner was that the respondent no.2 had not disclosed how the additional income was generated. In the instant case, the respondent no.2 had disclosed additional income in the form of unaccounted money as arising from shares speculation activities. Considering the order of the Settlement Commission and the record as it stands, we are not inclined to interfere in the exercise of our extraordinary jurisdiction. Hence, the petition is rejected. (D.G. KARNIK, J.) (F.I. REBELLO, J.)