IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.406 OF 2002 INCOME TAX APPEAL NO.406 OF 2002 INCOME TAX APPEAL NO.406 OF 2002 The CIT Mumbai .. Appellant Vs. M/s.Housing Development Finance Corpn.Ltd... Respondent Mr.Vimal Gupta for Appellant. Mr.F.V.Irani i/by Mr.A.K.Jasani for the Respondent. CORAM :- DR.S.RADHAKRISHNAN & CORAM :- DR.S.RADHAKRISHNAN & CORAM :- DR.S.RADHAKRISHNAN & S.J.KATHAWALLA, JJ. S.J.KATHAWALLA, JJ. S.J.KATHAWALLA, JJ. DATE : 25th September, 2008 DATE : 25th September, 2008 DATE : 25th September, 2008 P.C. P.C. P.C. 1. Heard the learned Counsel for the parties. In this Appeal, the following substantial question of law is sought to be raised in this Appeal:- "Whether on the facts and in the circumstances of the case, and in law the assessee is entitled for deduction under section 32AB of the Income Tax Act, 1961 even though the assets are neither received nor used during the relevant period? " 2. Perused the Tribunal’s order dated 25.09.2001. In paragraph No.4 of the order the Tribunal has clearly observed that the issue as to whether depositing the money with the Development Bank entitles the assessee for deduction under section 32 AB was not an issue before the Tax Authorities and in fact there was no deposit made in the previous year relevant to the Assessment Year under consideration. In view thereof, the Tribunal has remarked that the issue was academic. Under these circumstances, we do not find any substantial question of law involved in this Appeal. Appeal stands dismissed. (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.) (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.) (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.)