In Commissioner Of Income Tax v. M/S.alka Diamond Industries Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: In this view of the matter, appeal stands dismissed in limine with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.2801 OF 2009
Commissioner of Income Tax
Vs.
M/s.Alka Diamond Industries Ltd.
..Appellant
..Respondent
Mrs.Padma Divakar for appellant
CORAM :- V.C.DAGA &
J.P.DEVADHAR,JJ. 19TH DECEMBER,2009
DATE :
P.C.
1.Heard Learned Counsel for the appellant. Office objections are overruled. Registry is directed to register the appeal.
2.The ITAT has deleted the penalty on the ground that in the present case, the assessee had sought an extension of time from RBI from time to time for realisation of the export proceeds. The finding of fact recorded by the Tribunal is that the assessee cannot be said to have furnished inaccurate particulars of income. We see no infirmity in the impugned order passed by the Tribunal. In this view of the matter, appeal stands dismissed in limine with no order as to costs.
(J.P.DEVADHAR,J.)
(V.C.DAGA,J.)
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