IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1389 OF 2000 WITH INCOME TAX APPEAL NOS.1391 AND 1390 OF 2000. Crest Hotels Ltd., Mumbai ... ......Appellant V/s The Commissioner of Income Tax, Mumbai.... ......Respondent. Mr.Subhash Shetty, Adv. For the appellant. Mr.Vimal Gupta, Adv. For the respondent. CORAM: SWATANTER KUMAR, C.J. & A.P.DESHPANDE, J. DATED: 29th JULY 2008. PC: The present appeal is directed against the findings recorded in the order of Income-tax Appellate Tribunal dated 28.2.2000. The said findings of the Tribunal have been challenged by the assessee in the present appeal as according to him the liability will arise only when the total number of flats constructed by the assessee have been transferred completely and fully. We do not find any merit in this contention. The view taken by the Tribunal is in consonance with the settled principles of law and the tax liability of capital gains would obviously arise in the year in which even one or more flats are transferred though without execution of conveyance, if any. In our opinion no question of law, much less substantial question of law arises in the present appeal. Hence appeal stands dismissed. CHIEF JUSTICE A.P.DESHPANDE, J.