IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPEAL NO.343 OF 2005 TAX APPEAL NO.343 OF 2005 TAX APPEAL NO.343 OF 2005 Alfred C.Toepfer (I) .. Appellant Export Pvt.Ltd Vs. The Joint Commissioner of Income Tax Special Range 36 Mumbai .. Respondent Mr.F.V.Irani with Mr.A.K.Jasani for Appellant Mr.Vimal Gupta with Mr.P.S.sahadevan for Respondent CORAM CORAM CORAM : Dr.S.Radhakrishnan and : Dr.S.Radhakrishnan and : Dr.S.Radhakrishnan and A.V.Nirgude, A.V.Nirgude, A.V.Nirgude, JJ JJ JJ DATE DATE DATE : 23rd June, 2008. : 23rd June, 2008. : 23rd June, 2008. P.C. P.C. P.C. 1. Heard learned counsel for the appellant and learned counsel for the respondent. 2. Mr.Gupta states that Mr.Sahadevan undertakes to file vakalatnama/note of appearance within a period of two weeks from today in the above matter. 3. Mr.Irani, learned counsel for the appellant pointed out that as far as question nos. 1 to 5 in the present appeal are concerned, they are squarely covered by the Division Bench judgment of this Court in C.I.T.vs Asian Cables Corporation Ltd reported in 262 ITR 537 against the assessee and in favour of the revenue. Mr.Irani also states that as far as question no.6 is concerned, learned counsel for the appellant states that has instructions not to press the same. 4. Mr.Irani pointed out that since we had dismissed Income Tax Appeal No.405 of 2004 on the ground that there is a binding judgment of our Court in C.I.T. vs Asian Cables against the assessee, the assessee had preferred an S.L.P. against our order dt.25.1.2005 pertaining to Income Tax Appeal No.405 of 2004. The Hon’ble Supreme Court had granted leave in the same. To put in other words, the issue is now pending before the Hon’ble Supreme Court. However, as far as we are concerned, the judgment of our Court in C.I.T.vs Asian Cables has not been set aside by the Hon’ble Supreme Court and it is binding on us. In view thereof, we are not inclined to entertain the above appeal. Appeal stands dismissed. {A.V.Nirgude, {A.V.Nirgude, {A.V.Nirgude, J) J) J) (Dr.S.Radhakrishnan,J} (Dr.S.Radhakrishnan,J} (Dr.S.Radhakrishnan,J}