Ita/93/1999 Of The Commissioner Of Income Tax v. Premchand Somchand Shah
High Court
06 Mar 2007 In favour of: Unclear
Forum / Bench
High Court · newos
Parties
Ita/93/1999 Of The Commissioner Of Income Tax v. Premchand Somchand Shah
Date of order
06 Mar 2007
Assessment year(s)
1977-78
Outcome
Other
Case summary
In Ita/93/1999 Of The Commissioner Of Income Tax v. Premchand Somchand Shah, the High Court (2007) decided the matter.
Issue: The above application was admitted on the following question of law:- "Whether on the facts and in the circumstances of the case, the ITAT was right in upholding the order of CIT(A) cancelling the penalty u/s.271(1) (c) of Rs.1,09,300/- for the A.Y.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARYORIGINAL CIVIL JURISDICTIONINCOME TAX APPLICATION NO.93 OF 1999
The Commissioner of Income tax ..Petitioner.
V/s.
M/s.Premchand Somchand Shah ..Respondent.
Mr.P.S.Sahadevan for petitioner.
None for respondent.
CORAM : DR. S.RADHAKRISHNAN AND J.P.DEVADHAR, JJ.DATED : 6TH MARCH, 2007.
CORAM : DR. S.RADHAKRISHNAN AND
J.P.DEVADHAR, JJ.
DATED : 6TH MARCH, 2007.
ORAL JUDGMENT (PER DR.S.RADHAKRISHNAN, J.)
ORAL JUDGMENT (PER DR.S.RADHAKRISHNAN, J.)
. Heard learned counsel for the petitioner.
The above application was admitted on the following
question of law:-
"Whether on the facts and in the circumstances of
the case, the ITAT was right in upholding the order
of CIT(A) cancelling the penalty u/s.271(1) (c) of
Rs.1,09,300/- for the A.Y. 1977-78 ?"
2. The above application pertains to assessment
year 1977-78.
3. The amount of penalty involved in the
application is Rs.1,09,300/-. In view of the Revenue
Circular dated 27th March, 2000 the tax liability is
less than Rs.2 lakhs. Hence Rules stands discharged.
4. Application is disposed of.
(DR.S.RADHAKRISHNAN, J.)
(DR.S.RADHAKRISHNAN, J.)
(J.P. DEVADHAR, J.)
(J.P. DEVADHAR, J.)
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