Commissioner Of Income Tax, Ranchi v. M/S Carbon & Graphite Products, Ranchi

IN THE HIGH COURT OF JHARKHAND AT RANCHI----- Tax Appeal No. 03 of 2002 ----- Commissioner of Income Tax, Ranchi....AppellantVersus M/s Carbon & Graphite Products, Ranchi.... Respondent ----- CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MRS. JUSTICE JAYA ROY For the Appellant: Mr. Deepak Roshan, Sr. S.C. (I.T.) Ms. Rupa Kumari, AdvocateFor the Respondent: ----- th November, 2012 Order No. 09 Dated 6 Heard learned counsel for the appellant. The penalty was imposed under Section 271(C) of the Income Tax Act, 1961, by the Assessing Officer which has been upheld by the appellate authority vide order dated 04.03.1997. The Income Tax Appellant Tribunal, Kolkata Bench-A came at Jamshedpur, observed that the assessee written loss of Rs.8,00,000/- and assessed loss of Rs.5,18,910/-, the difference has arisen on account of certain disallowances on the basis of that some disallowance were made in earlier year. The Tribunal was of the view that in the facts of the case, no penalty could have been levied in such case because of the reason that addition has been made by merely disallowing certain claims, and therefore, in the facts of the case, it cannot be said that the assessee has concealed any fact or furnished inaccurate particulars. We are of the considered opinion that the tribunal has recored the findings on the basis of facts of the case and in fact this appeal, which has been admitted for deciding the question of law, involves no question of law. Hence, this appeal is dismissed. (Prakash Tatia, C. J.) (Jaya Roy , J.)