The Commissioner Of Income Tax - Iii v. Vijaykumar Hariram Malani (Huf

1 FARAD CONTINUATION SHEETIN THE HIGH COURT OF JUDICATURE OF BOMBAYBENCH AT NAGPUR INCOME TAX APPEAL NO.62 of 2009. The Commissioner of Income Tax - III..vs..Vijaykumar Hariram Malani (HUF) INCOME TAX APPEAL NO.64 of 2009. The Commissioner of Income Tax - III..vs..Vijaykumar Hariram Malani (HUF) =-=-=---=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-Office Notes, Office Memorandum of Court's or Judges OrderCoram appearances, Court's orders or directions & Registrar's orders. =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- Mr.Anand Parchure Adv. for the appellant.Mr.A.S.Jaiswal, Adv. for the respondent. C ORAM : J.P.DEVADHAR AND A.B.CHAUDHARI, JJ. DATED: 1[st] October , 2010. Short question raised in both these appeals is whether the ITAT was justified in deleting the penalty levied under Section 271D and 271E of the Income Tax Act, 1961. Perusal of para nos.5 and 6 of the order of the Tribunal show that the transaction in question was a genuine transaction and the amount was not given as a loan or deposit but it was given as a temporary adjustment between individual and Karta of HUF. pzc The finding recorded by the Tribunal is a finding of fact. No substantial question of law arises from the order of the Tribunal. Accordingly, both the appeals are dismissed. JUDGE JUDGE.