1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.162 OF 2008 Commissioner of income Tax-9. ...Appellant vs. M/s.A.N.Corporation Ltd. ...Respondent. --- Mr.B.M.Chatterjee, for Appellant. Mr.Deepak Traishawala with V.B.Hadade, for Respondent. CORAM: D.K.DESHMUKH & J.P.DEVADHAR, JJ. DATED: 25th July, 2008. P.C.:- 1. Heard the learned Counsel appearing for appellant. There is a finding of fact recorded by the Tribunal that the compensation was required to be paid by the Assessee only in that assessment year. There is also a finding recorded that in order to make payment of compensation, the assessee had to sell the flats. The submission before the tribunal was only that the payment of compensation relates to 2 the assessment year 1995-96 and not to 1996-97. The tribunal has recorded the finding that whether the transaction is taken into consideration during the assessment year 1995-96 or 1996-97, there is no loss of revenue. The correctness of this finding was not challenged before this Court. 2. So far as the other question is concerned, perusal of the order of the tribunal shows that the tribunal after referring the memorandum of association of the Assessee company and their balance-sheet, has held that the investment in the shares is one of the main business of the assessee and therefore, the loss suffered by them cannot be termed as the loss suffered on speculation. No question of law arises. Hence, the appeal is rejected. (D.K.DESHMUKH, J.) (J.P.DEVADHAR, J.) ---