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TAXAP/1953/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1953 of 2010
=========================================================
COMMISSIONER
OF INCOME TAX - III - Appellant(s)
Versus
RAJ
FAB PRIVATE LTD - Opponent(s)
=========================================================
Appearance
:
MRS
MAUNA M BHATT for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 18/10/2011
ORAL ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
Revenue
is in appeal against the judgment of the Tribunal dated 31.3.2010
raising the following question for our consideration :-
“Whether
the Appellate Tribunal is right in law and on facts in cancelling the
penalty of Rs.7,37,243/- levied u/s.271(1)(c) of the Act ?”
2. Issue
pertains to penalty imposed under Section 271(1)(c) of the Income Tax
Act, 1961 by the Assessing Officer. Such penalty was, however,
deleted by CIT (Appeals) and the view of CIT (Appeals) was confirmed
by the Tribunal.
3. Having
heard the learned counsel for the revenue and having perused the
orders on record, we find that CIT (Appeals) as well as the Tribunal
have recorded reasons for deleting the penalty. In particular, it was
found that merely because the assessee had made claim for expenditure
and such claim was not accepted, automatically the same would not
result into penalty proceedings. It was held that simple making a
claim would not mean that the assessee had furnished inaccurate
particulars of his income.
4. Considering
the above position on record, we do not find any question of law
arising. Tax Appeal is, therefore, dismissed.
(AKIL
KURESHI, J.)
(MS.
SONIA GOKANI, J.)
zgs/-
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