Kanakia Spaces Realty P. Ltd. Vs. Asstt.Comm. of I.Tax 35-ITXA 2641.2018.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2641 OF 2018 Kanakia Spaces Realty Private Limited …Appellant Versus Assistant Commissioner of Income-Tax & Anr., …Respondents ---------- Mr. Nitesh Joshi i/b Mr. Atul K. Jasani for the Appellant. N.C. Ranganayakulu for the Respondent – Revenue. ---------- CORAM : R.I. CHAGLA AND FARHAN P. DUBASH, JJ. DATE : 04 DECEMBER, 2025 ORDER : 1. Mr. Nitesh Joshi, learned Counsel appearing for the Appellant states that the above Income Tax Appeal has become infructuous in view of the subsequent order passed by the Income Tax Appellate Tribunal (“ITAT”) dated 20th September, 2021 by which the Show Cause Notice which is also the subject matter of the present Income Tax Appeal has been held to be an omnibus Show Cause Notice which did not strike off / delete the inappropriate / irrelevant / not applicable portion. The penalty levied pursuant to the --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Order dated December 8, 2025 KAVITA SUSHIL JADHAV Digitally signed by KAVITA SUSHIL JADHAV Date: 2025.12.08 10:53:56 +0530 Kanakia Spaces Realty P. Ltd. Vs. Asstt.Comm. of I.Tax 35-ITXA 2641.2018.doc Show Cause Notice has been held to be not legally sustainable in law. 2. Mr. Joshi has submitted that the substantial questions of law raised in the present Income Tax Appeal with regard to the penalty levied pursuant to the said Show Cause Notice have been answered in favour of the Appellant vide the said Order dated 20th September, 2021 of the ITAT. 3. Mr. Joshi has accordingly sought for disposal of the present Income Tax Appeal on the ground that it has become infructuous. 4. We have considered the submissions of Mr. Joshi and we find much merit in the submissions. The substantial questions of law no longer arise in view of the Order of the ITAT dated 20th September, 2021 having answered the substantial questions of law raised by the Appellant. 5. The Respondent - Revenue had filed an Appeal from the Order dated 20th September, 2021 passed by the ITAT being Income Tax Appeal No.789 of 2023 which was allowed to be withdrawn by --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Order dated December 8, 2025 Kanakia Spaces Realty P. Ltd. Vs. Asstt.Comm. of I.Tax 35-ITXA 2641.2018.doc the Division Bench of this Court on the ground that the tax effect was below Rs.2 Crores as per CBDT Circular dated 17th September, 2024. 6. The above Income Tax Appeal is accordingly disposed of as having become infructuous. There shall be no orders as to costs. [FARHAN P. DUBASH, J.] [R.I. CHAGLA, J.] Kavita S.J. 35-ITXA 2641.2018.doc --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Order dated December 8, 2025