The Commissioner Of Income Tax-5 v. M/S. Shukra Jewellery Ltd
High Court
30 Nov 2011 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax-5 v. M/S. Shukra Jewellery Ltd
Date of order
30 Nov 2011
Assessment year(s)
—
Outcome
Dismissed
Case summary
In The Commissioner Of Income Tax-5 v. M/S. Shukra Jewellery Ltd, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Issue: 1.Whether the ITAT 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: Accordingly, the Appeal is dismissed.
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 BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.6779 OF 2010
The Commissioner of Income Tax-5.
..Appellant.
Vs.
M/s. Shukra Jewellery Ltd.,
..Respondent.
....
Mr. Suresh Kumar, for the Appellant.Mr. Jitendra Jain, a/w. Mr. P.C. Tripathi & Mr. Atul Jasani, for the Respondent.
....
CORAM : J. P. DEVADHAR & A.R. JOSHI, JJ. DATED : 30th NOVEMBER, 2011.
P.C.
1.Whether the ITAT 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 Appeal filed by the Revenue against the deletion of quantum of addition being Income Tax Appeal No.5187 of 2010 has been dismissed today by us. Since the quantum addition made by the Assessing Officer stands deleted, the question of imposing penalty under Section 271(1)(c) does not arise. Accordingly, the Appeal is dismissed.
(A. R. JOSHI, J.)
(J. P. DEVADHAR,J.)
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