1 itxal-2904-09 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.2904 OF 2009 The Commissioner of Income Tax-3 ..Appellant. V/s. Parashakti Trading Co. Pvt. Ltd. ..Respondent. Mr. Vimal Gupta for appellant. Mr. J.D. Mistri, senior Advocate with Raj Darak for respondent. CORAM : J.P. DEVADHAR AND MRS. MRIDULA BHATKAR, JJ. DATED : 15TH FEBRUARY, 2011 P.C. :- 1. Whether the ITAT was justified in setting aside the order of the CIT passed under Section 263 of the Income Tax Act, is the basic question raised in this appeal. 2. CIT in his order held that in view of Section 115O(5) deduction under Section 80M is not allowable where the dividend is distributed after 31/03/2003. The Tribunal following the judgment of this Court in the case of M/s. Soumya Finance and Leasing Pvt. Ltd. set aside the order of the CIT. Counsel on both the sides agree that similar 2 itxal-2904-09 question raised by the revenue has been answered by this Court against the revenue in the case Commissioner of Income Tax-3, Mumbai V/s. M/s. Nikhil Investment Co. Pvt. Ltd. [Income Tax Appeal (Lod) No.3006 of 2009] decided on 15th March, 2010. In this view of the matter, the decision of the Tribunal cannot be faulted. Hence the appeal is dismissed with no order as to costs (MRS. MRIDULA BHATKAR, J.) (J.P. DEVADHAR, J.)