Commissioner Of Incoem Tax, Central – Ii, Mumbai v. Shri Samir N. Bhojwani

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.27 OF 2013 Commissioner of Incoem Tax, Central – II, Mumbai Versus Shri Samir N. Bhojwani ..Appellant. ..Respondent. Mr.Vimal Gupta, Senior Advocate with Ms.Padma Divakar for the appellant.Mr.J.D. Mistri, Senior Advocate with Mr.Atul K Jasani for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 28[th] February 2013 P.C. : 1.In this appeal by the Revenue, following question of law has been formulated for our consideration. “Whether, on the facts and circumstances of the case and in law, the Tribunal erred in confirming the order of the CIT (A) cancelling the penalty of Rs.12,05,060/- levied under Section 158BFA(2) of the Income Tax Act, 1961 which provides that the penalty shall be imposed on that portion of undisclosed income determined which is in excess of the amount of undisclosed income shown in the return of income ?” 2.The Tribunal has while deleting the penalty followed the decision of this court in the matter of Commissioner of Income Tax V/s. Dodsal Limited reported in (2009) 312 ITR 112 (Bom). The Tribunal has also recorded the fact that the explanation of the respondent – assessee was not found to be false. 3.In this view of the matter, we see no reason to entertain the proposed question of law. Accordingly, the appeal is dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)