1 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.1375 OF 2007 TAX APPEAL NO.1375 OF 2007 TAX APPEAL NO.1375 OF 2007 The Commissioner of Income Tax-IV ... Appellant Vs. Gujarat Phenolic Synthetics ... Respondents (P) Ltd. Mr. P.S. Sahadevan for Appellant. Mr. Atul K. Jasani for Respondents. CORAM CORAM CORAM : DR.S. RADHAKRISHNAN & : DR.S. RADHAKRISHNAN & : DR.S. RADHAKRISHNAN & J.P. J.P. J.P. DEVADHAR, JJ. DEVADHAR, JJ. DEVADHAR, JJ. DATE DATE DATE : 9TH APRIL, 2008 : 9TH APRIL, 2008 : 9TH APRIL, 2008 P.C. P.C. P.C. :- :- :- 1) Heard learned counsel for the Appellant and the respondents. 2) Perused the order of Tribunal. In Paragraph no. 5, the Tribunal has recorded the finding that the unsecured loans were admittedly received from the directors and the only reason for treating these loans as unexplained cash credits is that the assessee was not able to furnish the income tax assessment particulars of the relevant persons before the assessing officer. However, on the basis of the other particulars 2 furnished by the assessee the Tribunal held that the C.I.T.(A) ought to have deleted the entire additions. 3) Thus the finding recorded by the Tribunal that the loans received have been properly explained is a finding of fact. We do not find substantial questions of law arising from the order of the Tribunal. Hence, appeal stands dismissed. ( DR.S. DR.S. DR.S. RADHAKRISHNAN, J.) RADHAKRISHNAN, J.) RADHAKRISHNAN, J.) ( J.P. DEVADHAR, J.) J.P. DEVADHAR, J.) J.P. DEVADHAR, J.)