Ita v. M/S Sai Shyam Education Society

HIGH COURT OF JAMMU AND KASHMIR AT JAMMU ITA No.2/2018 Commissioner of Income tax …Appellant Through:- Mr. Suraj Singh Wazir, Advocate V/s M/S Sai Shyam Education Society. …Respondent(s) Through:- Mr. Nitin Mohan, Advocate vice Mr. M L Gupta, Advocate. HON’BLE MR. JUSTICE RAJESH BINDAL, JUDGECoram : HON’BLE MS. JUSTICE SINDHU SHARMA, JUDGE ORDER 01. The Revenue is in appeal against the order passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar, in ITA No. 59/(Asr)/2017 dated 24.08.2017, for the Assessment Year 2010-11, raising the following substantial questions of law: “I. Whether on the facts and in the circumstances of the case and in law, the Hon’ble ITAT is right in upholding the decision of Ld. CIT(A) in deleting the penalty u/s 271(1)(c) of the Act, as the assessee has furnished inaccurate particulars of income which was detected by the Assessing Officer during the course of assessment proceeding? II. Whether on the facts and in the circumstances of the case and in law, the 2 ITA No.2/2018 Hon’ble ITAT is correct in deleting the penalty on the basis of deletion of quantum addition particularly when the revenue has filed SLP against the decision of the Hon’ble High Court on the issue of quantum addition which is pending before the Apex Court.” 02. The tax involved in the present appeal is ₹ 20,48,769/-. The case pertains to levy of penalty under Section 271(1)(c) of the Income Tax Act, 1961. 03. Learned counsel for the Revenue fairly submitted that the appeal filed by the Revenue raising the issue regarding quantum of tax bearing ITA No.17/2016 was dismissed by this Court vide order dated 24.11.2016. Against the aforesaid order, Special Leave Petition (Civil) No.25901/17 was filed by the Revenue before Hon’ble the Supreme Court, which was dismissed on 24.09.2018. 04. As the appeal pertaining to the quantum of tax has already been decided against the Revenue, the issue involved in the present appeal being only the quantum of penalty on account of the tax allegedly evaded, nothing survives in the present appeal. The same is accordingly dismissed. Jammu 22.05.2019 Raj Kumar (Sindhu Sharma) (Rajesh Bindal) Judge Judge Whether the order is speaking : Yes Whether the order is reportable : Yes/No