1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. INCOME TAX APPEAL NO.2235 OF 2009 The Commissioner of Income Tax - Central III, Mumbai ..Appellant. Vs. M/s. Quality Investment Pvt. Ltd. ..Respondent. ..... Mr. Suresh Kumar for the Appellant. None for the Respondent. .... CORAM: DR. D.Y. CHANDRACHUD, & J.P.DEVADHAR, JJ. 4th January, 2010. P.C. : 1. The following question of law has been framed in the appeal filed by the Revenue against the judgment of the Income Tax Appellate Tribunal dated 18th July, 2008 : "Whether on the facts and in the circumstances of the case, the Hon'ble ITAT is correct in deleting the addition of Rs.25 lakhs made u/s 28(iv) of the IT Act as benefit had arisen to the assessee company by way of purchase of shares from the subsidiary company at value which was less than face value or break even value of such shares?" 2 2. The Tribunal has relied upon its decision in DCIT v. M/s. Airbourne Investment Finance Pvt. Limited (ITA 5956/Mum/2002 decided on 26th December, 2005). The attention of this Court has been drawn to a judgment of a Division Bench dated 11th August, 2008 in the Commissioner of Income Tax v. Nirmit Exports Pvt. Limited (Income Tax Appeal 962 of 2007) where an appeal involving a similar question including the correctness of the decision in Airbourne Investment Finance Pvt. Ltd. came to be dismissed. In the circumstances, in view of the judgment of the Division Bench dated 11th August, 2008, the appeal will have to be dismissed since it does not raise any substantial question of law. The Appeal is accordingly dismissed. (DR.D.Y.CHANDRACHUD, J.) (J.P.DEVADHAR, J.)