The Commissioner Of Income Tax-V, Pune v. Innovative Technomics Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 81 OF 2011 The Commissioner of Income Tax-V, Pune ..Appellant versus Innovative Technomics Pvt. Ltd. ..Respondent -------- Mr. Vimal Gupta, Sr. Adv. i/b Mrs. Padma Diwakar for the Appellant. Mr. Mihir Naniwadekar for the Respondent. ............. CORAM : J.P. DEVADHAR & M.S.SANKLECHA, JJ. DATE: 16[th] October, 2012 P.C. : 1Whether 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. 2The penalty in the present case arises on account of disallowance of the expenditure towards commission. The Tribunal in paragraph 61 of its order has recorded a finding that the assessee has made full disclosure of all material facts and that in the scrutiny inquiry, the claim made by the assessee was disallowed by the assessing officer. 3Since the assessee has neither concealed the particulars of income nor furnished inaccurate particulars of income, the Tribunal was justified in deleting the penalty. Accordingly, we see no reason to entertain the appeal. The appeal is accordingly dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P.DEVADHAR, J.)