P. P. Mahatme, POA Lorna Margaret Pinto vs. ACIT (Bombay High Court)

IN THE HIGH COURT OF BOMBAY AT GOA
TAX APPEAL NO.4 OF 2012
P.P. Mahatme, Power of Attorney
Lorna Margaret Pinto,
Gabmar Apartments,
Vasco Da Gama. … Appellant.
V/s.
Asst. Commissioner of Income-tax
Circle-2, Margao. … Respondent.
Mr. Mihir Naniwadekar with Mr. Purushottam Karpe, Advocates for
the Appellant.
Ms. Amira Abdul Razaq, Standing Counsel for the Respondent.
Coram : M.S. Sonak &
C.V. Bhadang, JJ.
Reserved on : 6th November, 2019.
Pronounced on : 8th November, 2019
J U D G M E N T : (Per M.S. Sonak, J.)
Heard Mr. Mihir Naniwadekar with Mr. Purushottam
Karpe for the Appellant and Ms. Amira Razaq, Standing Counsel
for the Respondent.
2. This Appeal was on board for final hearing, along with Tax
Appeals No.3/2012, 9/2012 and 10/2012. All these appeals involve
identical issues of both, law and fact. However, the learned Counsel
for the parties requested that this Appeal be treated as the lead
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Appeal. The learned Counsel for the parties agree that the decision
in this Appeal will govern the fate of the remaining three appeals, as
well.
3. This Appeal was admitted on 13.2.2012, on the following
substantial questions of law :
i. Whether on the facts and in the circumstances of the
case, the Appellate Tribunal is right in holding on a
perverse view that the change of position by mere
clarification by the Assessing Officer regarding status of the
assessee, which is contrary to the reasons recorded under
Section 148(2) and rule of law laid down by the
jurisdictional High Court could give jurisdiction to issue
the impugned notice under Section 148, which is otherwise
barred by limitation?
ii. Whether on the facts and in the circumstances of the
case, the Appellate Tribunal is right in dismissing the appeal
based on incorrect appreciation of facts and law and
taking a perverse view that the family arrangement
approved by the Civil Court was not bonafide and
consequently there was a transfer of assets attracting tax on
capital gains ?
4. The Appellant is a Power of Attorney holder to Lorna
Margaret Pinto, who is a Non-Resident Indian (NRI), about which
there is no serious dispute. The present Appellant and the Appellants
in connected Appeals, are sisters, who were involved in a dispute
relating to an immovable property in the State of Goa. It was the
case of these Appellants that the said immovable property was sought
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to be usurped by Cristovam and Alvaro, relatives of the Appellants.
This led to the institution of Special Civil Suit No. 255/1999, which
was ultimately disposed of by a Consent Decree dated 17.4.1998. In
terms of the Consent Decree, the Appellants received an amount of
Rs.5.50 crores during the Assessment Year 1999-2000.
5. In relation to the aforesaid amount, notices under Section
148 of the Income Tax Act, 1961 (IT Act) were issued to the
Appellants, seeking to reopen the assessment, inter alia, on the
ground that the aforesaid amount was taxable “capital gains”. These
notices were dated 14.03.2005 and were accompanied by reasons for
reopening, in which, it was stated that Mr. Pradip P. Mahatme, the
Power of Attorney holder was proposed to be treated as the agent of
the Assessee as provided in Section 163 of the IT Act.
6. Upon the Power of Attorney seeking clarification, by a
communication dated 22/03/2005, he was informed that he may file
return in response to the notice under Section 148 as the
‘representative assessee’ as per the provisions of Section 160(1) of the
IT Act for the Assessee – Lorna Pinto.
7. The aforesaid was, however, followed by yet another
communication dated 21.06.2005, in which, the Assessing Officer
clarified that the notices under Section 148, dated 14.03.2005 may
be read as being served upon Mr. P.P. Mahatme as the ‘power of
4 txa4-12-dt.08-11-19
attorney holder’ of Mrs. Lorna Margaret Pinto Wallworth.
8. The present Appellant, as well as the Appellants in the
connected Appeals, instituted Writ Petitions No.70/2006, 71/2006,
72/2006 and 73/2006, before this Court, questioning the notices
dated 14.03.2005, under Section 148 of the IT Act, inter alia, on the
ground that the same were barred by limitation as prescribed under
Section 149(3) of the IT Act. These petitions were dismissed by
Judgment and Order dated 27/03/2006.
9. As against the aforesaid, the Appellants instituted Special
Leave Petition before the Hon’ble Supreme Court, which came to be
disposed of by order dated 17.07.2006, which reads as follows :
“The short question which is involved in this special leave
petition is whether the petitioner herein is assessable under
Income Tax Act as the agent of N.R.I. Assessee or whether
the income tax assessment should be done only qua the
N.R.I. Assessee. The order of assessment has been passed.
It is the case of the N.R.I. Assessee that the assessment is
time barred. However, the assessee has not moved in
appeal before the appellate authority. Therefore, we direct
the petitioner herein/ N.R.I. Assessee to move in appeal
within four weeks. Delay, if any, stands condoned. The
objection as to limitation will also be decided by the
appellate authority.”
10. The Hon’ble Apex Court by the aforesaid order dated
17.07.2006, granted liberty to the Appellants to institute Appeals,
because in the meanwhile, the Assessing Officer, vide Order dated
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30/03/2006, had already made an assessment order, bringing to tax
the aforesaid amount of Rs.5.50 crores as ‘capital gains’.
11. The Appellant then preferred an appeal before the
Commissioner of Income -tax (Appeals), which was dismissed vide
order dated 14.12.2007.
12. The Appellant then instituted further appeal before the
Income Tax Appellate Tribunal (ITAT), which was also dismissed vide
order dated 10.06.2011.
13. As against the order dated 10.06.2011 made by the ITAT,
the Appellant has instituted the present appeal, which came to be
admitted on the aforesaid substantial questions of law.
14. Mr. Mihir Naniwadekar, learned Counsel for the Appellant
submits that the notices dated 14.03.2005, issued under Section
148 of the IT Act were clearly barred by limitation prescribed under
Section 149(3) of the IT Act. He submits that the notices were
issued to Mr. P.P. Mahatme, as the ‘representative assessee’ as per the
provisions of Section 160 of the IT Act. He submits that Section
149(3) of the IT Act clearly provides that if the person on whom a
notice under section 148 is to be served is a person treated as the
agent of a NIR under section 163, then, such notice shall not be
issued after expiry of the period of 2 years. He submits that
6 txa4-12-dt.08-11-19
therefore, the notice dated 14.03.2005 which was issued well beyond
the period of 3 years from the end of relevant assessment year, was
clearly barred by limitation, as then applicable.
15. Mr. Naniwadekar submits that merely because the
provisions in Section 143(3) of the IT Act were amended with effect
from 01/07/2012 so as to extend the period of limitation to six years,
the Revenue cannot seek to derive any advantage from such
amendment, which is basically prospective in nature. He submits
that even the explanation to Section 149(3) of the IT Act, at the
highest saves assessment for the Assessment Year 2010-11 and
Assessment Year 2011-12. He submits that based upon the
amendment of 2012, it was clearly impermissible for the Revenue to
reopen the time barred assessment on the date when the notice dated
14.03.2005 came to be issued in the present matters. In support of
this contention, Mr. Naniwadekar relies on Union of India and
ors. vs. Uttam Steel Limited1
16. Mr. Naniwadekar submits that the notices dated
14.03.2005 issued under Section 148 are vitiated because it is settled
law that the reasons in support of such notice cannot be
supplemented at a later stage, even by filing an affidavit or producing
any additional material. He submits that the notice under Section
148 requires sanction and such a sanction is issued to the reasons
recorded for reopening of the assessment which accompany the notice
1 (2015) 13 SCC 209
7 txa4-12-dt.08-11-19
under Section 148 of the IT Act. If such reasons are permitted to be
supplemented, as has been done in the present matter by issuance of
the communication dated 21.06.2005, then the principle that the
reasons cannot be permitted to be supplemented or the principle
that no fresh reasons can be stated, will stand breached. He submits
that this is yet another reason for setting aside the notice dated
14.03.2005 issued under Section 148 of the IT Act. In support of
this contention, he relies on Hindustan Lever Ltd. vs. R.B.
Wadkar2
17. Mr. Naniwadekar, without prejudice to the aforesaid,
submits that even, otherwise, this is a clear case where the parties have
entered into a ‘family settlement’ or ‘family arrangement’ , which is
perfectly bonafide. He submits that the consideration received under
the family settlement, even upon transfer of right and interest in the
family property, is not taxable as capital gain under Section 145 of
the IT Act. He submits that in fact, in such a situation there is really
no transfer or relinquishment of any right to the immovable property
as such. In any case, the proceeds received on the basis of such
family settlement or family arrangement cannot be brought to tax as
capital gains. He submits that from the material on record, it is more
than apparent that there was a bona fide family settlement arrived at
between the members of the Assessees’s family who have received the
amount of Rs.5.50 crores, as a consequence of such family settlement
2 268 ITR 332
8 txa4-12-dt.08-11-19
alone. He submits that the Revenue has exceeded its jurisdiction in
treating such amount as capital gains and bringing the same to tax.
In support of this contention, Mr. Naniwadekar relies on the
following decisions :
i) Commissioner of Income-tax, Mumbai vs. Schin P. Ambulkar 3;
ii) Kale and others vs. Deputy Director of Consolidation and
others4;
iii) Commissioner of Income-tax vs. Kay Arr Enterprises 5.
18. Ms. Razaq, learned Standing Counsel for the Respondent
defends the impugned order on the basis of the reasoning reflected
therein. She points out that the Appellants had actually challenged
the notice dated 14.03.2005 by instituting writ petitions before this
Court, which writ petitions came to be dismissed vide Judgment and
Order dated 27/03/2006. She submits that the order made by the
Hon’ble Apex Court on 17.07.2006, at the highest leaves open the
point of limitation. However, it is not permissible for the Appellant
to once again question the notices under Section 148 of the IT Act
on any ground other than limitation.
19. Ms. Razaq submits that in any case, the principle in
Hindustan Lever Ltd. (supra) will clearly not apply in the present
case, because, the Revenue has neither added to, nor supplemented
3 [2014] 42 taxmann.com 22 (Bom)
4 [1976] 3 SCC 119
5 299 ITR 348 (Mad)
9 txa4-12-dt.08-11-19
the reasons accompanying the notice dated 14.03.2005 under Section
148 of the IT Act. She points out that the reasons remained the
same and the communication dated 21.06.2005 merely clarified that
the notices were served upon Mr. P.P. Mahatme in his capacity as the
power of attorney holder for the Assessee and not as the
representative assessee. She, therefore, submits that there is no any
infirmity whatsoever in the notice dated 14.03.2005 issued under
Section 148 of the IT Act.
20. Ms. Razaq submits that once it is accepted that the notices
were issued to Mr. P.P. Mahatme only as the power of attorney
holder on behalf of Assessees who are NRIs, the period of limitation
which will apply, is six years and not merely two years as urged on
behalf of the Appellant. She submits that in any case, the
amendment of 2012, when read with the Explanation, makes it clear
that the notice issued on 14.03.2005, was well within the
prescribed period of limitation. She submits that the explanation
makes it clear that the amendment of 2012 will be applicable for
any assessment year beginning on or before the 1st day of April 2012.
She, accordingly, submits that the first substantial question of law be
decided against the Appellant and in favour of the Revenue.
21. Ms. Razaq submits that this is not at all a case of any
bonafide family settlement, because the material on record
overwhelmingly establishes that the parties with whom the Assessees
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have chosen to settle the dispute had no preexisting right in the
immovable property which was the subject matter of the dispute. She
points out that the decisions relied upon by the Appellant are in the
context of family settlements, in which preexisting rights of the
parties were realigned or adjudicated upon. She submits that this is
an essential distinguishing feature which has been noted by not less
than three authorities, who have recorded the concurrent findings of
fact. She submits that the concurrent findings of fact so recorded,
suffer from no perversities and, therefore, warrant no interference in
exercise of limited jurisdiction under Section 260A of the IT Act.
She relies on the following decisions in support of her contentions :
a) Union of India vs. Playworld Electronics (P.) Ltd. 6 ;
b) Banarsi Lal Aggarwal vs. Commissioner of Gift-tax 7
c) B.A. Mohota Textiles Traders (P.) Ltd. vs. Deputy
Commissioner of Income-tax, Special Range-28; and
d) Commissioner of Income-tax vs. B.M. Kharwar 9
22. Rival contentions now fall for our determination.
23. The first point which arises for determination is in the
context of the first substantial question of law, namely whether on
the facts and in the circumstances of the present case, the ITAT was
6 1989 taxmann.com 651 (SC)
7 230 ITR 114 (Punjab & Haryana)
8 397 ITR 616 (Bombay)
9 72 ITR 603 (SC)
11 txa4-12-dt.08-11-19
right in holding that the notice dated 14.03.2005 issued under
Section 148 of the IT Act, was legal and valid.
24. Challenge to the notice dated 14.03.2005 issued under
Section 148 of the IT Act is based upon the following two grounds :
(i) that the issuance of communication dated 21.6.2005, in which, it
is stated that the notice dated 14.03.2005 should be read as addressed
to Mr. P.P. Mahatme, as power of attorney holder of the Assessee,
instead of ‘representative assessee’ of Mrs. Lorna Pinto, amounts to
adding or supplementing the reasons originally accompanying the
notice dated 14.03.2005 and it is urged that such supplementing of
reasons is impermissible, in terms of the law laid down in Hindustan
Lever Ltd. (supra).
(ii) In any case, the issuance of notice dated 14.03.2005 under
Section 148 of the IT Act is barred by limitation prescribed under
Section 149(3) of the IT Act. It is further urged that the notice,
which was already barred by limitation in terms of law in force in the
year 2005, cannot be revived by virtue of an amendment which came
into force on 1.7.2012, in which the period of limitation was
extended from two years to six years. In support of this precise
contention, reliance was placed on Uttam Steel Limited (supra).
25. On the first aspect as aforesaid, we note that this was
precisely the challenge raised by the Appellants by instituting Writ
Petitions No.70/2006, 71/2006, 72/2006 and 73/2006, in which, the
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notice dated 14.03.2005 was squarely challenged. This ground was
specifically rejected in the Judgment and Order dated 27/03/2006.
Thereafter, the Appellants instituted Special Leave Petition, in
which, liberty was granted to the Appellants to raise the issue of
limitation. There was no specific liberty granted to the Appellants to
question the notice dated 14.03.2005 on the ground that the
communication dated 21.6.2005 amounts to supplementing or
adding to the reasons accompanying the notice dated 14.03.2005.
Thus, we are not too sure whether the Appellant was justified once
again in raising the aforesaid ground before the authorities or for that
matter, before this Court.
26. In any case, even, upon evaluation of such ground, we are
satisfied that the view taken by the authorities, warrants no
interference. This is because the communication dated 21.06.2005
nowhere supplements or adds to the reasons accompanying the
notice dated 14.03.2005. All that communication dated 21.6.2005
clarifies is that the notice was issued to Mr. P.P. Mahatme in his
capacity as the power of attorney holder of the Assessee. There is
really no dispute that Mr. P.P. Mahatme was indeed the power of
attorney holder of the Assessee. In these circumstances, the principle
in Hindustan Lever Ltd (supra) is certainly not attracted. In the said
decision, reasons which found no place in the notice proposing to
reopen the assessment, were sought to be introduced by means of an
affidavit or making oral submissions in response to the challenge to
13 txa4-12-dt.08-11-19
such notice. It is, in these circumstances that the Hon’ble Apex
Court, held that the reasons cannot be supplemented by filing an
affidavit or oral submissions, so as to supply material particulars in
which the said notice was lacking. Therefore, even on merits, we see
no ground to differ from the view taken by the authorities on the
issue of validity of the notice dated 14.03.2005, issued under Section
148 of the IT Act.
27. On the second aspect again, we are satisfied that the notice
dated 14.03.2005 under Section 148 of the IT Act was issued within
the prescribed period of limitation as obtained on the date of its
issuance. Section 149(3) of the IT Act, inter alia, provides that if the
person on whom a notice under section 148 is to be served is a
person treated as the agent of the NRI under section 163, then, the
notice on such agent of the NRI, shall not be issued after the expiry
of a period of two years from the end of the relevant assessment year.
In this case, however, from the clarification contained in the
communication dated 21.6.2006, it is apparent that the notice issued
to Mr. P.P. Mahatme, was not in his capacity as the agent of the
NRI-Assessee, but the same was issued to him as the power of
attorney holder of the NRI-Assessee. In such a situation, the period
of limitation for issuance of the notice was always 6 years. Therefore,
the notice dated 14.03.2005 being within 6 years from the end of
relevant assessment year, which is 1999-2000, was well within the
period of limitation, as then prevalent.
14 txa4-12-dt.08-11-19
28. The provisions of Section 149(3) of the IT Act were
amended by the Finance Act, 2012 with effect from 1/7/2012. The
amendment extended the period of limitation for issuance of notice
under Section 148, even upon the agent of the NRI, from 2 years to
6 years.
29. Explanation to Section 149(3) again introduced by the
Finance Act, 2012, reads as follows :
“Explanation.—For the removal of doubts, it is hereby
clarified that the provisions of sub-sections (1) and (3), as
amended by the Finance Act, 2012, shall also be applicable
for any assessment year beginning on or before the 1st day
of April, 2012”.
30. Looking to the width of the aforesaid explanation, it is not
possible to accept Mr. Naniwadekar’s contention that the extended
period of limitation will apply only to the assessments for the
Assessment Year 2010-11 or 2011-12. The explanation refers to any
assessment year beginning on or before the 1st day of April, 2012.
The explanation has been introduced specifically for the purpose of
removal of doubts or to clarify the position with regard to the
applicability of the amended provisions.
31. Mr. Naniwadekar had placed reliance upon paragraph
10.1 in Uttam Steel Limited (supra) which, in turn, refers to the
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decision in S.S. Gadgil vs. Lal and Co. reported in AIR 1965 SC
171. In the said decision, it is true that the Hon’ble Apex Court held
that the subsequent amendment will not assist the Revenue to
commence a proceeding even though at the date on which the notice
for commencement was issued, when such notice was barred by
limitation. However, Hon’ble Apex Court added that such provision
must be read subject to the rule that in the absence of an express
provision or clear implication, the legislature does not intend to
attribute to the amending provision a greater retrospectivity than is
expressly mentioned, nor to authorise the Income Tax Officer to
commence proceedings which before the new Act came into force
had by the expiry of the period provided, become barred.
32. In the present case, the explanation to Section 149 of the
IT Act makes all the difference. The explanation, is an express
provision that the legislature intended the amendment to apply for
any assessment year, beginning on or before 1st day of April, 2012.
The ruling in Uttam Steel Limited (supra), or for that matter, in S.S.
Gadgil (supra) is, therefore, distinguishable.
33. In any case, it is clarified that even, without resort to the
amendment of 2012, in the facts and circumstances of the present
case, it is quite clear that the notice dated 14.3.2005 was issued well
within the period of limitation, as prevalent on the date of issuance
of such notice.
16 txa4-12-dt.08-11-19
34. For the aforesaid reasons, the first substantial question of
law is required to be answered against the Appellant and in favour of
the Revenue.
35. In so far as the second substantial question of law is
concerned, it is necessary to note that the Assessing Officer,
Commissioner of Income-tax (Appeals) and the ITAT have
concurrently held that notwithstanding the nomenclature of the
settlement, or the fact that the settlement is incorporated in the
Consent Decree, the same is not a family settlement as such, the
principle in Sachin Ambulkar (supra) is inapplicable. This means
that the three authorities have basically returned a finding of fact
that the settlement in this case, is not a family settlement as such, so
as to regard the income derived therefrom by the Appellant as
inexigible to capital gains tax.
36. The family settlement referred to in Sachin Ambulkar
(supra) was a settlement amongst family members in the context of
their ‘preexisting right’. In this context, the ITAT whose decision
was questioned by the Revenue in the case of Sachin Ambulkar
(supra), had held that since the settlement ‘only defines a preexisting
joint interest as separate interests, there is no conveyance, if the
arrangement is bonafide’ . Since there is no conveyance, there is no
need for registration of such arrangements, when orally made, even if
17 txa4-12-dt.08-11-19
later on reduced to writing. The ITAT, thereafter, followed the
decision of the Hon’ble Apex Court in the case of Maturi Pullaiah
vs. Maturi Narasinham, reported in AIR 1966 SC 1836 and held
that where there is no transfer of assets in the family arrangement and
the amount received by the Assessee is part of the family
arrangement and not towards the transfer of any capital assets, such
amount cannot be regarded as a capital gain and no capital gains tax
liability arises. In Sachin Ambulkar (supra), this Court declined to
interfere with the view taken by the ITAT by observing that the
decision of the ITAT ‘is based on facts. Hence no question of law
arises’.
37. The findings of fact, in the present case, concurrently
recorded by all the three authorities indicate that there was no issue
of any ‘preexisting right’ as between the Appellants, Cristovam and
Alvaro, who are alleged to have usurped the immovable property
belonging to the Appellants. In fact, the record which has been
assessed in detail by the the Commissioner of Income-tax (Appeals),
establishes that the properties of Xavier Pinto were allocated to his
three sons Jose, Rosario and Antonio who, in turn, had one son each
by name of Alvaro, Cristovam and Anthony. Anthony migrated to
England along with his father Antonio. Margaret (present assessee)
is the wife of Anthony. They had three daughters Lorna, Julia and
Siobhan who are the Appellants in the connected Appeals. Since
there was already a partition of the properties owned by Xavier Pinto
18 txa4-12-dt.08-11-19
between his three sons Jose, Rosario and Antonio sometime in 1950s,
obviously Alvaro and Cristovam had no right whatsoever in the
immovable properties exclusively belonging to Antonio and after his
demise, his son Anthony. After demise of Anthony, the properties
were exclusively inherited by the present Appellants, who are the wife
and daughter of said Anthony.
38. In fact, it was the case of the Appellants that Alvaro and
Cristovam had no right whatsoever to the immovable property in
question, which was partitioned in favour of their predecessor-in-title
for almost three generations. Since, there was no issue of any
‘preexisting right’ as such between the Appellants and the said
Cristovam and Alvaro, it can really not be said that the settlement
arrived at between the Appellants and the said two persons qualify the
same as bonafide family settlement, in order to infer therefrom that
the consideration received was not some capital gains. These are all
findings of fact, recorded by the three authorities. These findings
are duly borne from the material on record and even the interferences
drawn cannot be said to be vitiated by any perversity as such.
39. The decision in Kale and others (supra) is quite
distinguishable, because in the present case, there is clear and cogent
material available on record to establish that Cristovam and Alvaro
had no right in the immovable property which was the subject matter
of dispute and consequently the settlement between the Appellant
19 txa4-12-dt.08-11-19
and the said two persons can hardly be described as a family
settlement. The settlement may be enforceable inter-parties now that
the same is incorporated in the consent terms, based upon a consent
decree may have been issued. However such settlement, cannot be
called as a family settlement or family arrangement, as is understood
in the case of Kale and others (supra) or in the case of Sachin
Ambulkar (supra). Merely because dispute involved some family
members and such dispute is ultimately settled by filing consent
terms, the same cannot be styled as a family arrangement or family
settlement and on such basis, it cannot be held that the consideration
received as a result of such settlement, does not constitute capital
gain.
40. The decision in the case of Kay Arr Enterprises (supra), also
relies upon the decisions in Kale and others (supra), and Maturi
Pullaiah (supra). Again, in the said case as well, the view taken is that
the family settlement was nothing, but a realignment of preexisting
right and thus, there was no liability for payment of any capital gains
tax .
41. This Court, in the case of B.A. Mohota Textiles Traders (P.)
Ltd. (supra) has, however, taken a view different from the view taken
by Madras High Court in Kay Arr Enterprises (supra). This Court
has held that a family settlement through the Court which required
the Assessee Company to transfer shares held by it in another
20 txa4-12-dt.08-11-19
company in favour of certain family members, will be required to pay
the capital gains tax, since the Assessee was a separate legal entity
being incorporated as a limited company. The substantial question of
law was, accordingly, decided in favour of the Revenue and against
the Assessee.
42. In Banarsi Lal Aggarwal (supra), the Assessee constructed
a property by taking loans from his family members. As he failed to
repay the loan, the family members claimed a share in the property.
The Assessee gave them 3/4th share in a family settlement by way of a
Court Decree and claimed that this being a family settlement, no gift
tax was chargeable. The Division Bench of Punjab and Haryana
High Court, however, held that merely because the loans were not
repaid by the Assessee to his family members, it could not create a
title in them in the property which would entitle them to claim
partition by way of family settlement of the property in question.
Based upon such reasoning, the High Court upheld the view taken
by the ITAT that there was no valid family settlement amongst the
members of the family and based upon such settlement, levy of gift
tax could not have been avoided. The High Court considered and
distinguished the decision in Kale and others (supra).
43. For all the aforesaid reasons, we are satisfied that the
findings of fact recorded concurrently by the three authorities suffer
from no infirmity, so as to give rise to the second substantial question
21 txa4-12-dt.08-11-19
of law framed in this matter. Accordingly, even the second substantial
question of law is required to be answered against the Appellant and
in favour of the Revenue.
44. As a result, this Appeal fails and is, hereby, dismissed.
There shall be no order as to costs.
C.V. Bhadang, J. M.S. Sonak, J.