The Commissioner Of Income Tax-3 v. M/S. Icici Bank Ltd

ASN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.6737 OF 2010 The Commissioner of Income Tax-3. ..Appellant., v. M/s. ICICI Bank Ltd...Respondent. Mr.Vimal Gupta, Sr. Advocate with Mrs. Padma Divakar for the Appellant. Ms. Aarti Vissanji with Mr. S.J.Mehta for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 23RD OCTOBER, 2012 PC: Whether the ITAT was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act,1961 in view of the additions made in the reassessment order for the Assessment Year 1995-96 is the question raised in this appeal. 2) It is not in dispute that the reassessment order made for the Assessment Year 1995-96 itself has been set aside by the Income Tax Appellate Tribunal which has attained finality. Once the additions made in the reassessment order do not survive then sustaining the penalty on such additions made in the reassessment order does not arise. Accordingly the appeal is dismissed. No order as to costs. (M.S.SANKELCHA, J.) (J.P. DEVADHAR, J.)