Itxa/2379/2009 Of The Commisioner Of Income Tax- 10 Mumbai v. Indian Oiltanking Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2379 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. M/s. Indian Oiltanking Ltd. ..Respondent. Ms. Padma Divakar for appellant.Mr.Percy J. Pardiwala, senior Advocate with A.K. Jasani for respondent. CORAM : DR. D.Y.CHANDRACHUD AND J.P.DEVADHAR, JJ. DATED : 25TH FEBRUARY, 2010 P.C. :- 1.This appeal by the Revenue under Section 260A relates to the correctness of an order dated 26th November, 2008 passed by the ITAT in deleting a penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal has deleted the penalty in view of the fact that the quantum addition has been deleted and the quantum appeal which has been filed before the Tribunal has been allowed. We are also informed by counsel appearing on behalf of the assessee, and which is accepted by counsel appearing for the Revenue, that the appeal (Income Tax Appeal (L) No.2822 of 2008) against the decision of the Tribunal has been dismissed by this Court albeit on the ground of delay in filing the appeal. In that view of the matter, we do not find any substantial question of law would arise in this proceedings. The deletion of the penalty was in order. The appeal is accordingly dismissed. (J.P.DEVADHAR, J.) (DR. D.Y.CHANDRACHUD, J.)