The Commissioner Of Income Tax - 2, Mumbai v. M/S.sudarshan Fiscal Services Private Limited
High Court
08 Jun 2011 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax - 2, Mumbai v. M/S.sudarshan Fiscal Services Private Limited
Date of order
08 Jun 2011
Assessment year(s)
—
Outcome
Dismissed
Case summary
In The Commissioner Of Income Tax - 2, Mumbai v. M/S.sudarshan Fiscal Services Private Limited, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Issue: P.C. : 1.Whether the Income Tax Appellate Tribunal was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961 is the question raised in this appeal.
Decision: The appeal is accordingly dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1652 OF 2010
The Commissioner of Income Tax - 2, Mumbai
Versus
M/s.Sudarshan Fiscal Services Private Limited
..Appellant.
..Respondent.
Mr.Vimal Gupta for the appellant.Mr.Jignesh R. Shah with Mr.P.C. Tripathi for the respondent.
CORAM : J.P. Devadhar &
Smt.R.P. Sondurbaldota, JJ.
DATE : 8[th] June, 2011.
P.C. :
1.Whether the Income Tax Appellate Tribunal was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961 is the question raised in this appeal.
2.The Tribunal, on consideration of facts, has held in para 6 of its judgment that the assessee had filed details of sale of shares and, therefore, the assessee cannot be said to have concealed any particulars so far as his computation of income is concerned. The decision of the Tribunal is based on finding of fact. No substantial question of law arises from the order of the Tribunal. The appeal is accordingly dismissed with no order as to costs.
(Smt.R.P. Sondurbaldota, J.)
(J.P. Devadhar, J.)
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