Itxa/2423/2013 Of Commissioner Of Income Tax-2 v. M/S. Charbhuja Industries P. Ltd

itxa-2423-13.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2423 OF 2013 … Commissioner of Income-Tax-2...Appellantv/s.M/s.Charbhuja Industries Pvt.Ltd....Respondent ...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 Tribunal's order for the Assessment Years 2008-09 and 2011-12 in Income Tax Appeal No.6345 and 6346/M/2012 decides the Appeals and by a common order rendered on 22 May 2013. 3.The Revenue has only challenged the order in Income Tax Appeal No.6345/M/2012, which pertains to Assessment Year 2008-09. The penalty was imposed under section 271(1)(c) of the itxa-2423-13.doc Income Tax Act, 1961, which was confirmed by the Commissioner. The penalty has been deleted for the reasons assigned in para 2.2 of the Tribunal's order. The Tribunal found that it was purely a mistake of the Chartered Accountant that he claimed deduction under section 10B of the IT Act, as per the previous practice and inadvertently he failed to take note of the amended provision. The Assessee-company bonafide relying on this computation made by the Chartered Accountant claimed an exemption. There was no concealment of income or non-furnishing of true particulars. The Assessee was claiming an exemption and erroneously. Since the conduct of the Assessee throughout was bonafide, the Tribunal deleted the penalty. 4.We do not find any substance in the contention of the Revenue inasmuch as such an order of the Tribunal cannot be termed as perverse or vitiated by any error of law apparent on th face of the record. It does not give rise any substantial question of law. The Appeal is devoid of merits and is dismissed. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.) itxa-2423-13.doc