-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1114 OF 2008 The Commissioner of Income Tax : Appellant City -21, Mumbai 51 v/s M/s. BVP Steel Corporation : Respondent Mr. N.A. Kazi for Appellant Mr. B.V. Jhaveri for respondent Coram : Dr. S. Radhakrishnan S.J. Kathawalla, JJ. Date : 18.9.2008 P.C. . Heard the learned counsel for the appellant and the learned counsel for the respondent. . In the above appeal the appellant is seeking to raise the following two questions of law. 1. Whether on the facts and circumstances of the case and in law the Hon’ble ITAT was justified in upholding the decision of CIT(Appelas) in deleting the addition of Rs. 33,60,223/- made by the Assessing officer on account of loans and interest without appreciating the fact that the assessee has failed to produce any of the creditors and -2- their creditworthiness? 2. Whether on the facts and cirsumstances of the case and in law the Hon’ble ITAT was justified in upholding the decision of CIT(Appeals) without appreciating the fact that the assessee failed to prove the loan credits as genuine? . We have perused the judgment of Income Tax Appellate Tribunal dt. 3.11.2006. Specially in paragraph 5 and 6 the Tribunal has fully concurred with the finding of fact given by the CIT(A). It appears that the CIT(A) examined the details of all the 15 creditors recorded in the books of account. In the record there is confirmation letters including PAN no. and their assessment orders. . In the light of the above there is absolutely no merit in the above appeal. Appeal is based merely on a finding of fact. Appeal is devoid of merits and same stands dismissed. (S.J. Kathawalla,J.) (Dr. S.Radhakrishnan,J.)