COMMISSIONER OF INCOME TAX Vs. KINARIWALA SPINNERS LTD

JUDGEMENT

(1.) WE have heard Mrs. Mauna M. Bhatt, learned Standing Counsel appearing for the revenue.

(2.) THESE two Tax Appeal have been filed proposing the following substantial questions of law :-

(3.) WE agree with the view taken by the Tribunal that the assessee Company was prevented by a sufficient cause in accepting or repaying the loan through account payee cheque of Bank draft. We do not find that any question of law, much less, substantial question of law arises in these two appeals. Both the tax appeals fail and are accordingly dismissed.