Principal Commissioner Of Income Tax-4 v. Robinson Impex(India) Ltd. ========================================================== Appearance

C/TAXAP/18/2018 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL NO. 18 of 2018 ========================================================== PRINCIPAL COMMISSIONER OF INCOME TAX-4VersusROBINSON IMPEX(INDIA) LTD.==========================================================Appearance: MRS MAUNA M BHATT for the PETITIONER(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIand HONOURABLE MR.JUSTICE B.N. KARIA Date : 26/02/2018 ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1.Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 27.06.2017 raising following question for our consideration: “Whether the Appellate Tribunal is correct in law and on facts in deleting the penalty u/s.271(1)(c) of the Act ?” 2.Issue pertains to penalty which the Assessing Officer levied under section 271(1)(c) of the Income Tax Act, 1961 ('the Act' for short) after disallowing a certain amount of bad debt claimed by the assessee. Commissioner of Income Tax (Appeals) however deleted the penalty which the Tribunal by the impugned judgment confirmed. The Commissioner of Income Tax (Appeals) as well as the Tribunal both were of the opinion that only through retrospective amendment by insertion of Explanation-1 to section 36(1)(vii), whereby, the bad debts were allowable only on actual write off. In view of such retrospective amendment, the disallowance was made by the Assessing Officer. However, on the basis of such retrospective applicability of law, penalty cannot be imposed as is well settled. 3.No question of law arises. Tax Appeal is dismissed. (AKIL KURESHI, J.) ANKIT SHAH (B.N. KARIA, J.)