Itxa/1617/2011 Of The Commissioner Of Income Tax-Iv v. U.b. Engineering Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1617 OF 2011 The Commissioner of Income Tax-IV, Pune..Appellant.V/s.U. B. Engineering Ltd...Respondent. Mr. Vimal Gupta, Sr. Advocate with Padma Divakar, for the Appellant.Mr. Madhur Agarwal with Mr. A. K. Jasani, for the Respondent. P.C:- CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 12[th] FEBRUARY, 2013. In this Appeal for the Assessment Year 2003-04, the Revenue has formulated the various Questions of law. However, the basic dispute is whether the Tribunal was justified in deleting the penalty under Section 271 (1) (c) of the Income Tax Act, 1961 imposed upon the Respondent-Assessee. 2The Assessing Officer has disallowed the claim made by the Respondent-Assessee with regard to the provisions of gratuity, delayed payment of Provident Fund and interest accrued from UPSEB. The Tribunal by the impugned order record the fact that the above S.R.JOSHI1 of 2 disallowance had been allowed in the quantum appeal by its order dated 11[th] September, 2009. Thus, the basis for penalty does not survive. More over, we find that there has been no concealment of income or furnishing of inaccurate particulars of income warranting the invocation of Section 271(I)(c) of the Act. At the highest, it could only be disallowance of a claim. In this view of the matter, following the decision of the Apex Court in the matter of Reliance Petroproducts reported in 322 ITR 158, we see no reason to entertain the present Appeal. 3 Accordingly, appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)