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TMI Blog2014 (12) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... s Appeal of the Revenue challenges the order passed by the Tribunal on 30 May 2012 in Income Tax Appeal No.6214/Mum/2010. The Assessment Year is 2007-08. 2. The only point, which was argued before the Tribunal and reiterated before us, is that the Commissioner of Income Tax (Appeals) has erred in law in directing the Assessing Officer to treat the income of Rs. 5,71,03,487/- as income from Long T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld have been taken to amend the partnership deed and particularly with regard to scope of the partnership business. In addition to this, when this property at Khetwadi , Mumbai was acquired in 1997, the Assessee made several applications seeking clearances and permissions from the Government Authorities so as to develop and construct upon the property, this would run counter and rather negate the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty in 2006. If the business was of Builder and Developer, it was inconceivable in a city like Mumbai, where the prices of the lands are sky rocketing, that the Builders and Developers will not do any business, even after they have set up a firm of Builder and Developer. The period of nine years coupled with the fact that barring one project nothing more was undertaken, leave alone, completed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . We do not see any assistance from such conclusions to the present set of facts and circumstances, they have been already noted above. In such circumstances, this Appeal does not raise any substantial question of law. Finding of fact cannot be termed as perverse or vitiated by any error law apparent on the face of the record. Consequently, the Appeal fails and is dismissed. No order as to costs.< ..... X X X X Extracts X X X X X X X X Extracts X X X X
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