COMMISSIONER OF INCOME TAX Vs. INDOCOUNT FINANCE LTD

JUDGEMENT

(1.) THE issue sought to be raised by the Revenue in this appeal under Section 260A of the IT Act, 1961, already stands concluded by a decision of this Court in CIT v. Bansal Credits Ltd. and Ors. (2003) 259 ITR 69 and, thereforee, no question of law, much less a substantial question of law, survives for our consideration.

(2.) IT is however submitted by Mr. Jolly learned counsel for the Revenue, that in fact the penultimate paragraph of the said decision in fact supports the case of the Revenue inasmuch as the assessed. had not adduced any evidence to show that the leased out vehicles were used by the lessee in the business of running them on hire.

(3.) WE are of the considered opinion that in view of the fact that the apex Court has dismissed special leave petitions filed by the Revenue as well as by the assessed against the afore -noted judgment of this Court and it has attained finality, the issue raised cannot be termed as a substantial question of law. Accordingly, we decline to entertain the appeal.