The Commissioner Of Income Tax v. M/S.jmp Investments Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.1085 OF 2008 The Commissioner of Income Tax, Vs. M/s.JMP Investments Ltd. ..Appellant ..Respondent Mr.Vimal Gupta a/w.P.S.Sahadevan for the Appellant.Mr.S.J.Mehta for the Respondent. CORAM :- DR.S.RADHAKRISHNAN &V.C.DAGA, JJ. DATE : 11TH DECEMBER, 2008 P.C. 1.Heard the learned Counsel for the parties. The learned Counsel for the Appellant seeking to raise the following substantial questions of law: (A) Whether on the facts and in thecircumstances of the case and in law, theHon’ble Tribunal was justified in confirmingthe order of the Commissioner of Income Tax(Appeals) in directing the Assessing Officerto treat the rental income as income frombusiness for the purpose of computingdeduction u/s.80HH even though it is notincidental to the business of the assessee?(B) Whether on the facts and in thecircumstances of the case and in law, theHon’ble Tribunal was justified in holding thatthe unit II is separate undertaking andentitled for deduction under Section 80HHdespite there is no separation of business ? 2.The learned Counsel for the Appellant does not press question (C). not find any substantial question of law involved in the above. Hence, the Appeal stands dismissed. (V.C.DAGA,J.) (DR.S.RADHAKRISHNAN,J.) (DR.S.RADHAKRISHNAN,J.) (DR.S.RADHAKRISHNAN,J.)