Revenue challenged the Tribunal's finding on cessation of business. The Bench held this was a pure finding of fact and the framed question did not arise, dismissing the appeal.
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K.J.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1222 OF 2008
The Commissioner of Income-tax-8 )
Mumbai )..Appellant
V/s.
M/s.Chunilal & Co.(TM) P.Ltd., )..Respondents
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Mr.Suresh Kumar for the appellant
Mr.A.K.Jasani for the respondents.
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Coram : F.I.Rebello & R.S.Mohite,JJ
Date : 21.01.2009.
PC
1. Revenue has come in appeal on the following
question :-
(A) Whether on the facts and the circumstances of
the case and in law the Hon’ble Tribunal was
justified in holding that cessation of business has
not taken place even though the assessee has not
carried out any business activity during the year?
2. Learned Tribunal considering the evidence on
record arrived at the conclusion that there was no
cessation of business considering the profit & Loss
account of the previous year and also subsequent
years. In our opinion, it is purely a finding of
fact. In the light of that, the question as framed
would not arise. Consequently, appeal dismissed.
(R.S.Mohite,J) (F.I.Rebello,J)
The Commissioner of Income-tax-8, Mumbai
M/s. Chunilal & Co. (TM) P.Ltd.
F.I. Rebello
R.S. Mohite
As recorded by the court registry
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