The Commissioner Of Income-Tax v. M/S. Modern Paper Convertors

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Income Tax Appeal NO. 716 of 2000 The Commissioner of Income-tax .... Appellant. vs. M/s. Modern Paper Convertors . .. ... . ... Respondents E. P. Chopra for Appellant None for Respondents. CORAM:S. RADHAKRISHNAN ANDA. S. AGUIAR JJ. Date: 13/6/2005 P,C, 1.Heard learned counsel for the Appellant and theRespondents. 2.By this appeal the appellant is seeking to raise the followingquestion of law: “Whether on the facts and circumstances of the case, the Tribunal was justified in law in deleting the addition of Rs.3,48,852/- made by the AO,without considering the provision of s. 43B of the I. T. Act 1961?” 3. We have perused the Order dated 10[th] October 2000 passed by the Income Tax Appellate Tribunal, declining to refer the above questionfor reference. The Tribunal has rightly observed that the refundsought unconditionally and the liability of the assessee did not ceasefinally once for all, since the refund was subject to the further ordersby the CEGAT in the appeal and no benefit had accrued to theassessee during the year ending 31.3.87 under section 41(1).Hence the Tribunal had agreed with the CIT(A) and held that refundcannot be taxed under section 41(1). Under the aforesaid facts andcircumstances we find no substantial question of law involved,hence appeal is dismissed. S. RADHAKRISHNAN J. A. S. AGUIAR J.