1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1547 OF 2007 AND INCOME TAX APPEAL NO.1548 OF 2007 The Commissioner of Income-tax (Central)-II, Mumbai ..Appellant. Versus M/s.Beautiful Diamonds Limited ..Respondent. Mr.P.S. Sahadevan for the appellant. Mr.Jitendra Jain with Mr.P.C. Tripathi i/by Atul K. Jasani for the respondent. CORAM : V.C. DAGA & J.P. DEVADHAR, JJ. DATE : 22nd JUNE, 2009 P.C. : 1. The order passed under Section 263 of the Income Tax Act, 1961 was set aside by the Tribunal on the ground that the order of C.I.T. under Section 263 was based on the order passed under Section 158 BC of the Act and the said order passed under Section 158 BC of the Act has been set aside by the Tribunal. In spite of grant of several adjournments, the revenue is not in a position to make a statement as to whether the order of the tribunal in setting aside the order passed under Section 158 BC of the Act was ever challenged by the revenue. In absence of any positive statement in this behalf, one has to presume that the said order has become final and conclusive. 2. In the above circumstance, we see no merit to entertain these appeals where the tribunal has set aside the order of C.I.T. passed under Section 263 of the Act. The appeals are thus dismissed with no order as to costs. (J.P. Devadhar, J.) (V.C. Daga, J.)