IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.40 OF 2004 The CIT Mumbai City-3 ..Appellant V/s. M/s.Guruvas Textiles Ltd., ..Respondent ---- Mr.Vimal Gupta with Mr.P.S.Sahadevan for the appellant. Mr.J.D.Mistry with Mr.Raj Darak for the respondent. ---- Coram : F.I.Rebello & Coram : F.I.Rebello & Coram : F.I.Rebello & R.S.Mohite,JJ R.S.Mohite,JJ R.S.Mohite,JJ Date : 26.02.2008. PC 1. Commissioner (Appeals) by his order dated 26.12.1995 considered two contentions advanced by the assessees who were the appellants before him. The first question was regarding disallowance made out of interest payment to the City Bank of Rs.2,48,405/-. The Commissioner (Appeals) held that disallowance are the same as discussed in the case of sister concerns of the assessee M/s.Lazor Sintex Ltd., for the assessment year 1992-93 which has been decided by the appellate order dated 22.12.1992. Commissioner (Appeals) relied on the same order, deleted disallowance of Rs.2,48,405/-. 2. In so far as disallowance of Rs.53,96,854/- being the claim of loss on sale of debentures, held : 2 : against the assessee and maintained the dis-allowance. 3. The assessee aggrieved, preferred an appeal before ITAT. ITAT while disposing off the appeal in so far as debentures are concerned, by its order dated 18.10.2002 relied on the judgment in the case of M/s.Lazor Syntex Limited allowed the appeal in favour of the assessee. From the order of the Tribunal it is also found that the Tribunal has also framed another question viz. disallowance of the interest payable to the City Bank. We may note here that the appellant before the Tribunal was the assessee. The said question was allowed in favour of the assessee by the Commissioner (Appeals). That was not the issue raised before the Commissioner and consequently that was not the issue. Once that being the case, the question-(b) of paragraph-5 as framed would not arise. In so far as question-(a) is concerned, the judgment in M/s.Lazor Syntex Ltd., had come up for consideration before this Court in Income Tax Application No.11 of 1999 in the case of CIT Vs.Lazor Syntex Limited. The order of the Tribunal was confirmed. That being the case, question-(a) also would not arise. Consequently, appeal dismissed. (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J)