Itxa/2418/2013 Of Commissioner Of Income - Tax, 2 v. M/S. Tata Asset Management Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2418 OF 2013 … Commissioner of Income Tax-2v/s.M/s.Tata Asset Management Ltd. ...Appellant ...Respondent … Mr.Sureshkumar for the Appellant. P.C. CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 12 DECEMBER 2014 Though the Appeal is listed under the group of similar matters for “Direction”, By consent of Mr.Sureshkumar, it is taken up as listed for “Admission”. 2. The order of the Tribunal confirming that of the Commissioner and deleting the penalty of Rs.49,22,775/- is challenged in this Appeal by the Revenue. 3.The concurrent finding of fact is that the order of the Assessing Officer disallowing unpaid commission of Rs.1,46,25,000/- was accepted by the Assessee. The Assessee accepted the mistake and did not challenge this order. However, in itxa-2418-13.doc relation to the penalty, the Commissioner and the Tribunal concluded that there was no justification as none of the ingredients of clause (c) of sub-section (1) of section 271 together with explanation-1 thereto are attracted, much less satisfied. The entire particulars and relevant for the purpose of an inquiry were furnished. That was in the Tax Audit Report. In such circumstances, the Tribunal's conclusion and upholding of the order of the Commissioner does not raise any substantial question of law. The Appeal is devoid of merits and is dismissed. No costs. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)