Shri Nimo K. Punwani v. Asstt. Commissioner Of Income Tax - 9(3

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.818 OF 2011ANDINCOME TAX APPEAL (L) NO.819 OF 2011ANDINCOME TAX APPEAL (L) NO.820 OF 2011ANDINCOME TAX APPEAL (L) NO.821 OF 2011ANDINCOME TAX APPEAL (L) NO.822 OF 2011ANDINCOME TAX APPEAL (L) NO.823 OF 2011ANDINCOME TAX APPEAL (L) NO.824 OF 2011 Shri Nimo K. Punwani Versus Asstt. Commissioner of Income Tax - 9(3) ..Appellant. ..Respondent. Mr.Sanjiv M. Shah for the appellant.Mr.Suresh Kumar for the respondent. CORAM : J.P. Devadhar & A.A. Sayed, JJ. P.C. : DATE : 20[th] July, 2011. 1.In all these appeals, penalty levied under Section 271(1)(c) of the Income Tax Act, 1961 has been sustained by the Income Tax Appellate Tribunal by relying upon the judgment of the Apex Court in the case of Union of India V/s. Dharmendra Textiles Processors reported in 306 ITR 277 (SC). Counsel for the parties state that the said judgment has been subsequently diluted by the Apex Court in the case of Union of India V/s. Rajasthan Spinning & Weaving Mills 224 CTR 1 (SC). 2.In this view of the matter, the order of the Tribunal is quashed and set aside. All the appeals are restored to the file of the Income Tax Appellate Tribunal for fresh consideration in accordance with law. All contentions of both the parties are kept open. 3.All the appeals are accordingly disposed off with no order as to costs. (A.A. Sayed, J.) (J.P. Devadhar, J.)