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TMI Blog2020 (1) TMI 1172X X X X Extracts X X X X X X X X Extracts X X X X ..... is an audit objection - HELD THAT:- Learned counsel for the appellant has merely stated that there was an audit objection and therefore, in light of the Division Bench judgement of the Bombay High Court in M/S. NAWANY CONSTRUCTION CO. PVT. LTD. [ 2018 (9) TMI 800 - BOMBAY HIGH COURT] mere raising of this objection in terms of a circular is not enough. The Revenue has not pointed out that this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this Court towards the judgement delivered by the Division Bench of Bombay High Court in the case of Principal Commissioner of Income-Tax, Mumbai vs. Nawany Construction Co. (P.) Ltd., (2018) 98 Taxmann.com 294 (Bombay). Paras-6 to 9 of the aforesaid judgement reads as under :- 6. However, the latter Circular dated 11.7.2018 contains para 10. The para 10 of this Circular reads as under: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in Clause 10(c) of this Circular is, where the Revenue Audit Objection in the case has been accepted by the Department. 8. It is conceded that while seeking to restore Income Tax Appeal No.254 of 2013 on the file of this Court, neither the Revenues Circular dated 1172018 is referred nor any condition therein. If the condition now relied upon is with regard to the Revenue Audit Objection, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there was an audit objection and therefore, in light of the Division Bench judgement of the Bombay High Court, mere raising of this objection in terms of a circular is not enough. The Revenue has not pointed out that this audit objection has been accepted by the department nor any record has been placed before us and therefore, present income tax appeal stands disposed of keeping in view the CB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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