M/S.manghandas Jayramdas, Mumbai v. The Asstt. Commissioner Of Income Tax, 14(2

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.125 OF 2010 M/s.Manghandas Jayramdas, Mumbai..Appellant. Versus The Asstt. Commissioner of Income Tax, 14(2)..Respondent. Mr.M. Subramaniam with Mr.V.S. Hadade for the appellant.Mr.P.S. Sahadevan for the respondent. CORAM : J.P. Devadhar & R.M. Savant, JJ. P.C. : DATE : 6[th] December, 2010. 1.Heard. Admit on the following substantial question of law. “On the facts and in the circumstances of the case, whether the Income-tax Appellate Tribunal was right in law in confirming the penalty levied of Rs.19,63,730/- u/s. 271(1)(c) of the Act ? 2.Counsel for the parties state that the appeal filed by the assessee against the penalty order was dismissed by the Tribunal on the ground that no appeal has been filed by the assessee against the quantum addition. Counsel for the appellant brought to our notice that in fact the appeal has been filed by the assessee against the quantum addition and the Tribunal by its order dated 27[th] October 2010 has deleted the penalty and restored the matter back to the Adjudicating Authority for decision afresh in accordance with law. 3.In this view of the matter, the order of the Tribunal dated 13[th ]July 2009 sustaining the penalty is quashed and set aside and the matter is restored to the file of the assessing officer for denovo consideration in accordance with law. The appeal is accordingly disposed off with no order as to costs. 3. (R.M. Savant, J.) (J.P. Devadhar, J.)