Ita/1315/2009 Of The Commissioner Of Income Tax,Kottayam v. M/S.central Stores,Kottayam

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN THURSDAY, THE 17TH SEPTEMBER 2009 / 26TH BHADRA 1931 ITA.No. 1315 of 2009() ---------------------- ITA.44/COCH/1999 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT ----------------------------- THE COMMISSIONER OF INCOME TAX,KOTTAYAM BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S.CENTRAL STORES,KOTTAYAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 17/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -------------------------------------------- -------------------------------------------- Dated this the 17th day of September, 2009 JUDGMENT Ramachandran Nair, J. Department is challenging the order of the Tribunal confirmingthe cancellation of penalty levied under Section 271(1)(c) of the I.T.Act. However, it seen from the Tribunal's order that penalty iscancelled by the first appellate authority because in assessment appealthe decision was in favour of the assessee cancelling the additionsbased on which penalty is levied. It is conceded by standing counselthat department was unsuccessful in the assessment appeal before thisCourt also. Since the basis for penalty, that is additions, standscancelled, the Tribunal rightly confirmed the order of the CIT(Appeals) cancelling the penalty levied for concealment of income.Consequently we dismiss the appeal. (C.N.RAMACHANDRAN NAIR) Judge. (V.K. MOHANAN) Judge.