M/S CARONA LIMITED vs DEPUTY COMMISSIONER OF INCOME TAX,SPL. RANGE-29. MUMBAI.

Neeta Sawant IXTA-512-2003-FC IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 512 OF 2003 M/s. Carona Limited, A Public Limited Company, Incorporated under The Companies Act, 1956 Having its registered Office at New Udyaog Mandir Compound, Mogal Lain, Mahim (W.) Mumbai – 400 016. ….Appellant : Versus : 1. Deputy Commissioner of Income Tax Special range, 29, Mumbai Having his office at Aaykar Bhavan, M.K.Marg, Mumbai – 400 020. 2. Commissioner of Income Tax V, Having his office at Aayakar Bhavan, M. K. Marg, Mumbai – 400 020. 3. The Union of India Law Ministry, Aayakar Bhavan, 2nd Floor, M.K.Marg, Mumbai – 400 020. ….Respondents Ms. Aarti Sathe with Ms. Aasavari Kadam, for the Appellant. Ms. Shilpa Goel, for the Respondent. CORAM : ALOK ARADHE, CJ. & SANDEEP V. MARNE, J. Judgment Reserved On : 12 June 2025. Judgment Pronounced On : 20 June 2025. Page No.1 of 20 20 June 2025 Neeta Sawant IXTA-512-2003-FC JUDGMENT : (Per Sandeep V. Marne, J.) 1) This Appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the I.T. Act) has been filed by the Assessee which pertains to the Assessment Year 1984-85. The Appeal