Itxa/906/2011 Of The Commissioner Of Income Tax - 5 Mumbai v. Litolier Interior Pvt. Ltd

kps IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.906 OF 2011 The Commissioner of Income Tax-5.-Versus-Litolier Interior Pvt. Ltd.. ..Appellant ..Respondent ........... Mrs.S.V.Bharucha, for the Appellant/ Revenue.Mr.Pankaj R. Toprani, for the Respondent/ Assessee. ........... CORAM: S.C. DHARMADHIKARIAND GIRISH S. KULKARNI, JJ. DATE :- 08[th] April, 2014 P.C.: 1 Having heard Mrs.Bharucha, learned counsel appearing for the Appellant/ Revenue and perusing with her assistance the memo of appeal and all annexures thereto, we are of the opinion that the question as projected as a substantial question of law is pertaining to cancellation of penalty. That the Respondent/ Assessee did not agree with the Assessing Officer's view and carried the matter in appeals and before the Tribunal by way of cross-objection, does not mean that the conduct was such as would invite penalty. There was nothing intentional or deliberate in the act nor was the claim of the nature which could be said to be covered by the provision enabling imposition of penalty. All that the ITAT has observed is that there were two opinions with regard to the claim. That merely raising a claim which is found to be incorrect does not amount to concealment of income or furnishing inaccurate particulars, is the conclusion reached by the ITAT. 2We do not find that such conclusions and which essentially pertain to the facts and circumstances peculiar to this case raise any substantial question of law for determination and consideration of this Court. The Appeal is devoid of any merit and is dismissed. No costs. (GIRISH S. KULKARNI, J.) (S.C. DHARMADHIKARI, J.)