Principal Commissioner Of Income Tax,Central - 2 v. Umesh Ishrani

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.225 OF 2017 Principal Commissioner of Income Tax,Central - 2 .... Appellant versus Umesh Ishrani... Respondent ….... Mr.Suresh Kumar, Advocate for Appellant.Mr.Suresh Kumar, Advocate for Appellant. None for Respondent.None for Respondent. CORAM : AKIL KURESHI & SARANG V. KOTWAL, JJ.DATE: 30[th] APRIL, 2019. P.C. : 1. This Appeal is filed by the revenue to challenge the judgment of Income Tax Appellate Tribunal. Following questionis presented for our consideration; “Whether on the facts and in the circumstances of thecase and in law, the Hon'ble ITAT was justified indeleting the penalty imposed u/s. 271(1)(c) of the I TAct, 1961, ignoring the fact that the assessee hadundoubtedly made such unaccounted cash payments for purchase of shops and therefore the AO was fully justifiedin imposing penalty u/s. 271(1)(c) of the Income TaxAct, 1961 in respect of such undisclosed income?” 2. The issue pertains to penalty deleted by Income Tax Appellate Tribunal under section 271 (1)(c) of the Income TaxAct, 1961. 3. In a separate order passed today in Income Tax Appeal No.219/17, we have confirmed the Tribunal’s judgment deletingquantum addition. In view of this matter, this penalty Appeal isalso dismissed. (SARANG V. KOTWAL, J.) (AKIL KURESHI, J.)