1 itxa4041-10 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.4041 OF 2010 The Commissioner of Income Tax - 15, Mumbai ..Appellant. Versus Mr.Peerchand M. Bhansali ..Respondent. Mr.Ravindra A. Lokhande for the appellant. Mr.Sanjiv M. Shah for the respondent. CORAM : J.P. Devadhar & A.A. Sayed, JJ. DATE : 29th July, 2011. P.C. : 1. Whether the Income Tax Appellate Tribunal was justified in holding that reopening of the assessment order was invalid is the question raised in this appeal. 2. In the present case, the reasons for reopening the assessment was that the amount outstanding against M/s.R.K. Industries to the extent written off by the assessee had escaped assessments and needs to be brought to tax under Section 41 of the Act. Perusal of the order of the Income Tax Appellate Tribunal shows that the Tribunal has recorded a finding of fact that the assessee in its books of account claimed set off of sundry creditors against 2 itxa4041-10 sundry debtors and the balance amount was shown as bad debt. The Tribunal has held that there is no reason to believe that the amount of Rs.29,94,455/- related to sundry creditors to whom the assessee had to pay the amount and the same was written off. 3. The decision of the Tribunal is based on finding of fact. No substantial question of law arises from the order of the Tribunal. The appeal is accordingly dismissed with no order as to costs. (A.A. Sayed, J.) (J.P. Devadhar, J.)