The Director Of Income Tax (International Taxation) – Ii v. Bank Of Bahrain & Kuwait Bsc

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1738 OF 2011 The Director of Income Tax (International Taxation) – II..Appellant. Versus Bank of Bahrain & Kuwait BSC..Respondent. Mr.Suresh Kumar for the appellant.Mr.F.V. Irani with Mr.Atul K Jasani for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 5[th] February 2013 P.C. : 1.In this appeal by the Revenue for assessment year 1998-1999, following question of law has been formulated for our consideration. “Whether, on the fact and circumstances of the case and in law the Tribunal was right in holding that the income arising from the security and on debentures to the assessee is liable to be taxed on due bases and not on the basis of day to day ?” 2.The Revenue had filed an appeal from the order of the Tribunal passed for an earlier assessment year in the assessee's own case to this Court, being Income Tax Appeal No.2940 of 2009. This Court by an order dated 20[th] December 2010 dismissed the appeal filed by the Revenue. The Revenue carried the matter to the Supreme Court. The Apex Court by an order dated 2[nd] November 2012 dismissed the SLP filed by the Revenue. 3.Since the issue raised in the present appeal is covered by the decision of this Court for earlier assessment year, we see no reason to entertain the present appeal. The appeal is accordingly dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)