: 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.997 OF 2007 TAX APPEAL NO.997 OF 2007 TAX APPEAL NO.997 OF 2007 The Commissioner of Income Tax-24, . Mumbai ...Appellant V/s. Chandrika Bharat Shah & Ors. ...Respondents Mr.A.D. Kango, Advocate, for the Appellant. Mr.A.K. Jasani, Advocate, for the Respondents. CORAM CORAM CORAM : DR. S. RADHAKRISHNAN & : DR. S. RADHAKRISHNAN & : DR. S. RADHAKRISHNAN & A.V. A.V. A.V. NIRGUDE, JJ. NIRGUDE, JJ. NIRGUDE, JJ. DATE DATE DATE : 10TH JULY, 2008. : 10TH JULY, 2008. : 10TH JULY, 2008. P.C. P.C. P.C. : : : . Heard the learned Counsel for the Appellant and the learned Counsel for the Respondents. 2. By the above Appeal, the Appellant is seeking to raise the following substantial questions of law :- (a). Whether on the facts and circumstances of the case and in law, the Hon’ble Tribunal was right in deleting the addition of Rs.22.15 lakhs which was reduced to Rs.15.55 lakhs by CIT(A) holding it to be capital receipt not taxable under the Income Tax Act ignoring the provisions of section 68 & 69 of the Income : 2 : Tax Act? (b). Whether on the facts and circumstances of the case and in law, the Hon’ble Tribunal was justified in holding that the addition made under section 68 & 69 was not taxable since the same was capital in nature ignoring that by virtue of deeming provisions to section 68 & 69, the said sum was deemed to be income of assessee? 3. Perused the Judgment of the Tribunal dated 14th November, 2006. Specially for the reasons stated in paragraph Nos.9 to 12, which are only finding of facts, we do not find any substantial question of law involved in the above Appeal and the same stands dismissed. [A.V. [A.V. [A.V. NIRGUDE, J.] [DR. S. RADHAKRISHNAN, J.] NIRGUDE, J.] [DR. S. RADHAKRISHNAN, J.] NIRGUDE, J.] [DR. S. RADHAKRISHNAN, J.]