The Commissioner Of Income Tax – V, Pune v. Mahindra Hinodaya Industries Limited (Formerly Dgp Hinodaya Industries Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2462 OF 2009 The Commissioner of Income Tax – V, Pune......Appellant.VersusMahindra Hinodaya Industries Limited(Formerly DGP Hinodaya Industries Limited)......Respondent. Mr.Suresh Kumar i/by Mr.Vimal Gupta for the appellant.Mr.Sanjiv M. Shah for the respondent. CORAM : Dr.D.Y. Chandrachud & J.P. Devadhar, JJ. DATE : 7[th] January, 2010. P.C. : 1.The Income Tax Appellate Tribunal has by its order dated 22[nd] May 2008 set aside the order of the Commissioner of Income Tax (Appeals) upholding the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal has observed that its attention was drawn to the order passed by the Tribunal in the quantum appeal, by which the Tribunal has deleted the additions on the basis of which the penalty is levied. The Tribunal passed a common order in respect of assessment years 1994-95 and 1995-96. The present appeal relates to the assessment year 1994-95. During the course of hearing, the attention of the Court has been drawn to an order dated 9[th] October 2009 passed by the Division Bench in Income Tax Appeal No.2054 of 2009 pertaining to the same assessee. This Court recorded the statement of Counsel for the revenue and Counsel for the assessee that since the quantum appeal filed before this Court against the order of the Tribunal has been dismissed, imposition of penalty could not be sustained. 2.For the same reasons, which have weighed with the Court while passing the order dated 9[th] October 2009, we find no substantial question of law in this appeal. The appeal is accordingly dismissed with no order as to costs. (J.P. Devadhar, J.) (Dr.D.Y. Chandrachud, J.)