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TAXAP/854/2005 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 854 of 2005
==============================================================
COMMISSIONER
OF INCOME TAX - Appellant(s)
Versus
SUBODHCHANDRA
AND CO., - Opponent(s)
==============================================================
Appearance
:
MR
MANISH R BHATT for
Appellant(s) : 1,
None
for Opponent(s) :
1,
==================================================================
CORAM
:
HONOURABLE
MR.JUSTICE D.A.MEHTA
and
HONOURABLE
MS.JUSTICE H.N.DEVANI
Date
: 27/12/2005
ORAL ORDER
(Per
: HONOURABLE MR.JUSTICE D.A.MEHTA)
The
appellant-revenue has proposed the following three questions.
“(A)
Whether, the Appellate Tribunal is right in law and facts, in
cancelling the penalty levied u/s. 271 (1) ( c) of the Act ?
(B)
Whether, the Appellate Tribunal has not seriously erred in law and on
facts, in overlooking the observations made by it in the quantum
assessment wherein, in no uncertain terms, it has been held that the
assessee had not furnished correct and complete information ?
)
Whether, the Appellate Tribunal is right in law and on facts, in
cancelling the penalty levied u/s. 271 (1) (c ) of the Act when it
had not concealed the particulars of its income and that it had not
furnished inaccurate particulars of income ?
Mr.M.R.Bhatt,
the learned Senior Standing Counsel for the appellant has been
heard.As can be seen from the impugned order of Tribunal dated 24th
September, 2004, it has found after appreciating the facts and
evidence on record that the revenue has not been able to prove that
there was any concealment of any fact by the assessee ; that the
addition made by the Assessing Officer and partly sustained by the
Tribunal is based upon presumption without there being any evidence
of any sale outside the books. The Tribunal has cancelled the
penalty after recording the aforesaid findings. Nothing has been
brought on record to dislodge these findings of fact.
In
the circumstances, in absence of any substantial question of law,
the appeal is dismissed.
(D.A.MEHTA,
J.)
(HARSHA
DEVANI,J.)
*mithabhai
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