2022 (2) TMI 1407 - HC - Income Tax

Estimation of income - Bogus purchases - HELD THAT - Substantial questions of law have been proposed in those appeals and Mr. Walve states that the issue is squarely covered in the order M/S. PARAMSHAKTI DISTRIBUTORS PVT. LTD. 2019 (7) TMI 838 - BOMBAY HIGH COURT and M/S MOHOMMAD HAJI ADAM CO. 2019 (2) TMI 1632 - BOMBAY HIGH COURT

Summary

Issues:
Multiple Income Tax Appeals involving withdrawal of one appeal and disposal of remaining appeals based on precedent judgments.

Analysis:

1. Withdrawal of Income Tax Appeal NO. 1831 of 2019:
- The appellant sought leave of the Court to withdraw this appeal as the matter had been settled under the Direct Tax Vivad Se Vishwas Act.
- The Court granted permission for withdrawal and dismissed the appeal accordingly.
- Any refund of court fees, if applicable, was directed to be made in accordance with the rules.

2. Disposal of Remaining Appeals:
- The appellant's counsel mentioned that substantial questions of law had been proposed in the remaining appeals.
- The counsel argued that the issues raised were already addressed in previous orders by the Court, specifically referring to the orders dated 11th February 2019 in Income Tax Appeal NO. 1004 of 2016 and 15th July 2019 in Income Tax Appeal NO. 413 of 2017.
- Based on the counsel's submissions and the precedent judgments cited, the Court disposed of all the remaining appeals.
- Any interim applications related to these appeals were also deemed disposed of by the Court.

3. Overall Decision:
- The High Court of Bombay, comprising K.R. Shriram and N.J. Jamadar, JJ., oversaw the proceedings and rendered the judgment.
- The appellant's counsel, Mr. Sham V. Walve, represented the appellant in all the appeals, while various other counsels represented the respondents in different appeals.
- The Court efficiently managed the withdrawal of one appeal due to settlement and the disposal of the remaining appeals based on the applicability of legal principles established in prior judgments.
- The judgment reflects a systematic approach to resolving multiple appeals, ensuring that each matter is appropriately addressed and concluded in accordance with the law.

This detailed analysis encapsulates the key aspects of the judgment, highlighting the withdrawal of one appeal, the disposal of remaining appeals based on precedent judgments, and the overall management of the legal proceedings by the High Court of Bombay.