In Principal Commissioner Of Income Tax-2 v. Kamlesh Prahladbhai Modi, the High Court (2018) dismissed the appeal. The decision went in favour of the assessee.
Decision: These tax appeals relating to same transactions arising out of such quantum additions are also dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
C/TAXAP/340/2018 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/TAX APPEAL NO. 340 of 2018With
R/TAX APPEAL NO. 341 of 2018With R/TAX APPEAL NO. 366 of 2018With R/TAX APPEAL NO. 369 of 2018
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PRINCIPAL COMMISSIONER OF INCOME TAX-2VersusKAMLESH PRAHLADBHAI MODI
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Appearance:MRS MAUNA M BHATT(174) for the PETITIONER(s) No. 1MR KIRTIKANT THAKER(2055) for the RESPONDENT(s) No. 1MR. ARCHIT P JANI(7304) for the RESPONDENT(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIandHONOURABLE MR.JUSTICE B.N. KARIA
Date : 18/04/2018 ORAL ORDER
(PER : HONOURABLE MR.JUSTICE AKIL KURESHI)
These appeals are filed by the Revenue challenging the judgment of Income Tax Appellate Tribunal deleting the penalty imposed against the respondent assessees.
By a separate order passed today, we have confirmed the view of the Tribunal deleting the quantum additions. These tax appeals relating to same transactions arising out of such quantum additions are also dismissed.
(AKIL KURESHI, J)
(B.N. KARIA, J)
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