1 8.ITXA.1859&2054-13.doc IN HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1859 OF 2013 WITH INCOME TAX APPEAL NO.2054 OF 2013 Commissioner of Income Tax 2 Appellant Versus Development Credit Bank Ltd. ..Respondent Mr. Suresh Kumar, for Appellant. Mr. Satish R. Mody a/w. Ms. Aasifa Khan, for Respondent. CORAM : S.C. DHARMADHIKARI & S.P. DESHMUKH, JJ. DATE : JANUARY 08, 2015 P.C. 1. These Appeals by Revenue are directed against order passed by Tribunal on 20 th March, 2013 in Income Tax Appeal Nos.3303/Mum/2005 and 3304/Mum/2005. Assessment Years are 2000-01 and 2001-02 respectively. 2. Mr. Suresh Kumar submits that questions at page-3 para 4 (1) &(2) are substantial questions of law. TheTribunal has not applied tests which are relevant for purpose of scrutiny of order passed under Section 263 of Income Tax Act, 1961. It applied distinct tests and to quash and set aside Deshmane, (P.S.) 1 of 3 ::: Uploaded on - 17/01/2015 ::: Downloaded on - 31/12/2018 15:03:58 ::: 2 8.ITXA.1859&2054-13.doc order of Commissioner. Therefore first question is substantial question of law and second question is also substantial question of law in light of findings rendered by Assessing Officer. 3. Upon perusal of order passed by Tribunal, we are unable to agree with Mr.Suresh Kumar. recourse to Section 263 of Income Tax Act, 1961 is permissible only when Commissioner is satisfied that assessment order is erroneous insofar as it is prejudicial to interest of Revenue. finding of fact that is rendered by Tribunal is that view taken by Assessing Officer while passing Assessment Order is possible and plausible one. That could not have been set aside or interfered with under Section 263 of Income Tax Act, 1961. It may be that in para-140 of order, Tribunal renders finding that Commissioner of Income Tax exercised his power under Section 263 of Income Tax Act,1961 merely because there was change of opinion. However, perusal of paragraphs preceding same would reveal that Tribunal was aware that it has to scrutinize order passed by Commissioner and which is traceable to Section 263 of Income Tax Act, 1961. parameters for scrutiny of such order are Deshmane, (P.S.) 2 of 3 ::: Uploaded on - 17/01/2015 ::: Downloaded on - 31/12/2018 15:03:58 ::: 3 8.ITXA.1859&2054-13.doc present to mind of Tribunal and that is evident by para-138 of order under challenge. 4. In these circumstances, we are not in agreement with Mr. Suresh Kumar that Tribunal has overlooked Section 263 of Income Tax Act, 1961 or has applied incorrect parameters and tests. 5. With regard to second question and which pertains to writing off bad debts by Assessee to extent indicated in Commissioner's order, we are of opinion that our order passed today in companion Income Tax Appeal No.1840 of 2013 would cover this aspect. For reasons indicated in that order, this question cannot be termed as substantial question of law. 6. entire Appeals are, therefore, dismissed. No costs. (S.P. DESHMUKH, J.) (S.C. DHARMADHIKARI,J.) Deshmane, (P.S.) 3 of 3 ::: Uploaded on - 17/01/2015 ::: Downloaded on - 31/12/2018 15:03:58 ::: Commissioner of Income-tax-2 v. Development Credit Bank Ltd