[ASN] IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1199 OF 2008 The Commissioner of Income Tax-3. ..Appellant. Vs. Videocon Appliances Ltd. ..Respondent. Mr.Vimal Gupta with Mr.P.S.Sahadevan for the Appellant. Mr. F.V. Irani with Ms. Neeta Rajda i/by DSR Associates for the Respondent. CORAM : F.I. REBELLO & R.S. MOHITE, JJ. DATE : 30th March, 2009. PC : 1. Revenue is in appeal on the following question. Whether on the facts and in the circumstances of the case and in law the Hon’ble Tribunal was right in confirming the order of the learned CIT (Appeals) holding that the Assessee Company was entitled to allowance of lease rentals paid to M/s. PNB Capital Services amounting to Rs.3,28,65,870/- for use of solar power plant even though physical verification done by the Income Tax Officers on 22.3.2000 at the business premises of the assessee company revealed that no power plant was found at the business premises of the assessee company and further that assessee company did not furnish any explanation regarding the location of the power plant either during the course of search or [ 2 ] during post search enquiry? 2. The entire submission on behalf of the revenue was that when the survey was carried out, the said solar power plant was not found at the site. Both CIT & ITAT recorded a concurrent finding of fact that on the basis of the material evidence on record, the said solar power plant did not exist at the site but the same was located in the adjoining premises of the assessee’s sister/subsidiary company . In fact, the lessor M/s. PNB Capital Services is a subsidiary company of Punjab National Bank, which is a Govt. of India undertaking, atleast, to the extent, the Government of India is principal share holder. 3. Considering the concurrent finding, in our opinion, the question of law as framed would not arise. Consequently, appeal dismissed. ( R.S. MOHITE, J.) ( F.I.REBELLO, J.)