Principal Commissioner Of Income Tax 2 v. Gujarat Lease Financing Ltd

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL No. 1048 of 2018 ============================================================= PRINCIPAL COMMISSIONER OF INCOME TAX 2VersusGUJARAT LEASE FINANCING LTD. ============================================================= Appearance :Mrs MAUNA M BHATT, Advocate for the PETITIONER(s) No. 1 for the RESPONDENT(s) No. 1 ============================================================= CORAM: HONOURABLE Mr. JUSTICE AKIL KURESHIandHONOURABLE Mr. JUSTICE B.N. KARIA21[st] August 2018 ORAL ORDER(PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal, Ahmedabad [“Tribunal” for short] dated 27[th] February 2018, raising the following question for our consideration. “Whether the Appellate Tribunal has erred in law and on facts in deleting the penalty under Section 271 [1](c) of the Income-tax Act, 1961 ?” Issue pertains to penalty imposed by the Assessing Officer under Section 271 [1] (c) of the Income-tax Act, 1961. We are C/TAXAP/1048/2018 ORDER informed that on quantum additions, the assessee had succeeded. The High Court also has dismissed Revenue’s Tax Appeal No. 1028 of 2018 relateable to the quantum additions.In that view of the matter, this Tax Appeal is dismissed. Prakash [Akil Kureshi, J.][B.N Karia, J.]