1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.461 OF 2008 Commissioner of Income Tax-II. ...Appellant vs. Shri.Shashi Aggarwal. ...Respondent. --- Mr.Bhatnagar with N.R.Prajapati, for appellant. Mr.S.Agarwal with M.Subramanium, for Respondent. CORAM: D.K.DESHMUKH & J.P.DEVADHAR, JJ. DATED: 4th September,2008. P.C.:- 1. Heard the learned Counsel appearing for both the sides. So far as the first question is concerned, it is an admitted position that when the assessee visited the convention at Glasgow though he visited it as Rotarian and as tour operator, the expenditure was not provided by rotary and therefore, in our opinion, the Tribunal has rightly said that the expenditure is business expenditure. 2 2. So far as the second question is concerned, it is common ground that it was a slump sale. However, according to the revenue, it was taxable under Section 50 of the Income Tax Act. The tribunal has rightly held that it will not be taxable under Section 50 of the Act but subsequently the legislature has made specific provision by introducing Section 50B and as section 50B was not in force in the relevant assessment year i.e. 1998-99, the provision of Section 50B cannot be made applicable. No question of law arises. Hence, the appeal is rejected. (D.K.DESHMUKH, J.) (J.P.DEVADHAR, J.)