TMI Blog2014 (7) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 30th March, 2009. It is in these circumstances, that we are of the opinion that the finding of fact recorded by the Tribunal on the point of the limitation, cannot be said to be vitiated by an error of law apparent on the face of the record nor it can be termed as perverse. – no substantial question of law arises for consideration - there is no question of explanation (3) being noticed by the Tribunal – Decided against revenue. - Income Tax Appeal No. 229 of 2012 - - - Dated:- 11-6-2014 - S C Dharmadhikari And B P Colabawalla, JJ. For the Appellant : Mr. Suresh Kumar i/b. Ms. Padma Divakar For the Respondent : Mr. Pankaj R. Toprani and Ms. Krupa Toprani JUDGEMENT:- 1. This is a revenue's appeal challenging the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld have included the same in the proceedings under Section 147. The Tribunal's view, therefore, raises a substantial question of law and the appeal deserves admission. 3. We are unable to agree. The original assessment in the case of the assessee for assessment year 2001-02 was completed by the Assistant Commissioner of Income Tax, Circle-6(2), Mumbai, under section 143(3) of the Income Tax Act on 22nd March, 2004 determining the book profit under Section 115JB of the Income Tax Act at Rs.55,44,06,947/. Thereafter, the case was reopened under section 147 of the Income Tax Act on the ground that book profit under section 115JB of the Income Tax had been under assessed. Subsequently, the order under section 143(3)/147 was passed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... umstances, that we are of the opinion that the finding of fact recorded by the Tribunal on the point of the limitation, cannot be said to be vitiated by an error of law apparent on the face of the record nor it can be termed as perverse. It is a finding recorded on a mixed question. In such circumstances, the view taken, does not raises any substantial question of law. There is no question of explanation (3) being noticed by the Tribunal in this case and when the facts are as peculiar as noted above. Therefore, finding that in the facts peculiar to the case of the present assessee a finding on the point of limitation has been rendered in favour of the assessee, that we are of the opinion that the appeal does not raise any substantial questi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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