Itxa/1389/2013 Of The Commissioner Of Income Tax - 10, Mumbai v. M/S Radhe Krishna Fiscal Pvt. Ltd

itxa-1389-13.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1389 OF 2013 … The Commissioner of Income Tax-10 ...Appellant v/s. M/s.Radhe Krishna Fiscal Pvt.Ltd. ...Respondent … Mr.Tejveer Singh for the Appellant.Dr.K.Shivram, Sr.Counsel i/b Mr.Rahul K. Hakani for the Respondent. ... CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 12 DECEMBER 2014 P.C. The order under challenge in this Appeal is passed by the tribunal on 14 December 2012 in ITA No.6256/Mum/2011. That allows the Assessee's Appeal for Assessment Year 2005-06 and deletes the penalty of Rs.35,35,309. 2.Though the Appeal is listed under the group of similar matters for “Direction”, both sides agreed that the same can be disposed of. 3.Accordingly, it is taken up as listed for “Admission”. 4.Mr.Tejveer Singh, learned Counsel for the Revenue, submits that the conclusion of the Tribunal is erroneous and itxa-1389-13.doc therefore the Appeal raises substantial question of law. The disallowance by the Assessing Officer was confirmed by the Commissioner and equally the order imposing the penalty. 5.We are unable to agree with Mr.Tejveer Singh, on perusal of the order of the Tribunal. In para 4, the Tribunal has concluded that the issue raised was debatable. In the backdrop of the peculiar facts and when the requisite material relevant to the claim was fully and truly disclosed by the Assessee, then there is no justification for imposition of the penalty. 6.We do not find that the reasons assigned by the Tribunal in paras 7 & 8 of the impugned order raise any substantial question of law. The order cannot be termed as perverse or vitiated by any error of law apparent on the face of the record. Consequently, the Appeal has no merits. It is dismissed. No costs. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)