The Commissioner Of Income Tax v. Shri.hanumant S.tambe

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1069 OF 2008 The Commissioner of Income Tax,Vs.Shri.Hanumant S.Tambe ..Appellant ..Respondent Mr.P.S.Sahadevan for the Appellant.Mr.N.Joshi a/w.V.V.Khemkar for the Respondent. CORAM :- DR.S.RADHAKRISHNAN &S.J.KATHAWALLA, JJ.DATE : 15TH SEPTEMBER, 2008 P.C. 1.Heard the learned Counsel for the parties. By the above Appeal, the Appellant is seeking to raise the following substantial questions of law. a. Whether on the facts and in thecircumstances of the case, the Hon’bleTribunal was right in law in confirming theorder of CIT(A) in deleting the disallowanceof depreciation on machinery value of Rs.4.06lac rightly made by the Assessing Officer?b. Whether on the facts and in thecircumstances of the case, the Hon’bleTribunal was right in law in affirming theorder of the Ld. CIT(A) deleting the additionof Rs.10.73 lac made by Assessing Officertowards unexplained investment in agriculturalland without appreciating in properprospective the entries in the seized papersand the evidentiary value of the seizedproperty documents which are bearing thumbimpression/signature of the concerned parties?c. Whether on the facts and in thecircumstances of the case, the Hon’bleTribunal was right in law in upholding theLd.CIT(A)’s order in deleting the addition ofRs.3 lac made by the AO; relating to loan law involved in the above Appeal. The Appeal is devoid of merits. Hence, the same stands dismissed. (S.J.KATHAWALLA,J.) (DR.S.RADHAKRISHNAN,J.)