K.J. IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.154 OF 2009 The CIT-15 Mumbai )..Appellant Vs. Smt.Damayanti Mukesh Marolia )..Respondent ---- Ms.Anuradha Mane for the appellant. Mr.P.J.Pardiwala Sr.Counsel with Mr.A.K.Jasani for the respondent. ---- Coram : F.I.Rebello & R.S.Mohite,JJ Date : 19.3.2009. PC 1. Revenue has come in appeal on the following questions of law :- (a) Whether on the facts and in the circumstances of the case, the Hon’ble ITAT erred in law in placing heavy reliance upon the statement of Shri Satish Mandowara who could not produce any evidence of purchase and sale of shares even though the A.O. had brought on record overwhelming evidence to show that the purchase and sale of trnsactions of shares shown by the assessee were not genuine ? (b) Whether on the facts and in circumstances of the case the Hon’ble Tribunal are justified in law in holding the transactions in shares as genuine even though the contract notes and bills of brokers found during the course of survey were found to be bogus as a result of investigation carried out by the A.O. during the course of assessment proceedings ? 2. We have heard both parties. We also considered the orders of the Tribunal which are relied on the : 2 : findings of fact recorded by the another bench of the Tribunal in the case of the husband of the respondent viz. Mukesh Marolia. Revenue is unable to point out any perversity of the said findings. We are also informed that the appeal filed in the husband’s case is dismissed for non prosecution. In our opinion, the questions as framed would not arise. Consequently, appeal stands dismissed. (R.S.Mohite,J) (F.I.Rebello,J)