:1: bgp bgp bgp IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL ORIGINAL ORIGINAL CIVIL JURISDICTION CIVIL JURISDICTION CIVIL JURISDICTION INCOME INCOME INCOME TAX TAX TAX APPEAL NO.322 OF 2009 APPEAL NO.322 OF 2009 APPEAL NO.322 OF 2009 The Commissioner of Income Tax ..Appellant Vs. M/s.Lloyds Steel Industries Ltd. ..Respondent Mr.Suresh Kumar for Appellant. Mr.Atul K.Jasani for respondent. CORAM CORAM CORAM :- V.C.DAGA & :- V.C.DAGA & :- V.C.DAGA & J.P.DEVADHAR,JJ. J.P.DEVADHAR,JJ. J.P.DEVADHAR,JJ. DATE DATE DATE : 17TH APRIL,2009 : 17TH APRIL,2009 : 17TH APRIL,2009 P.C. P.C. P.C. 1. Heard learned Counsel for parties. So far as the first question is concerned, this Court, in the case of Commissioner of Income Tax Vs. Maharashtra Commissioner of Income Tax Vs. Maharashtra Commissioner of Income Tax Vs. Maharashtra State State State Seeds Corporation in Income Tax Appeal No.14 of Seeds Corporation in Income Tax Appeal No.14 of Seeds Corporation in Income Tax Appeal No.14 of 2000 2000 2000 decided on 5th November, 2000 decided on 5th November, 2000 decided on 5th November, 2000 held that if the amount was paid within grace period, no disallowance can be made. Considering this legal position, the first question does not arise. 2. So far as the second question is concerned, the Tribunal has recorded the finding of fact that there were expenses incurred by the Assessee out of dividend income. This finding is based on appreciation of evidence. There is no substantial question of law involved in the appeal. The appeal is, therefore, dismissed in limine with no order as to costs. (J.P.DEVADHAR,J.) (J.P.DEVADHAR,J.) (J.P.DEVADHAR,J.) (V.C.DAGA,J.) (V.C.DAGA,J.) (V.C.DAGA,J.)