The Commissioner Of Income Tax-10 v. M/S.sahney Kirkwood Pvt. Ltd

ASN IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.94 OF 2013 The Commissioner of Income Tax-10. v. M/s.Sahney Kirkwood Pvt. Ltd. ..Appellant. ..Respondent. Mr.Tajveer Singh for the Appellant. Mr. R. Murlidhar with B.G.Yewale i/by Rajesh Shah & Co. for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 29TH JANUARY, 2013 PC: In this appeal by the revenue, following question of law has been formulated for our consideration. Whether on the facts and in the circumstances of the case and in law the Tribunal is justified in deleting the penalty imposed u/s.271 (1)(c) on the ground that agreement between assessee and MIWI is not sham and bogus? 2) It is stated by the Counsel for the appellant that the penalty under Section 271(1)(c) of the Income Tax Act was deleted by the impugned order of the Tribunal. The deletion of penalty was in view of the fact that in quantum proceeding this Court has confirmed the deletion of the quantum addition in Income Tax Appeal No.1501,1509,1515 to 1517 of 2007 by its order dated 29/7/2011. In view of the above, we see no reason to entertain the proposed question of law. 3) The appeal is accordingly dismissed with no order as to costs. (M.S.SANKLECHA, J.) (J.P. DEVADHAR, J.)