The Commissioner Of Income Tax-V v. Prime Paper & Engg.pvt.ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1644 OF 2012 … The Commissioner of Income Tax-Vv/sPrime Paper & Engg.Pvt.Ltd. ...Appellant ...Respondent … Mr.Tejveer Singh for the Appellant. ... P.C. CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 12 DECEMBER 2014 The Assessing Officer imposed a penalty of Rs.40,06,600 under section 271(1)(c) of the Income Tax Act, 1961. That was deleted by the Commissioner of Income Tax (Appeals) on Assessee's Appeal. The Revenue carried the matter to the Tribunal, which has confirmed the order of the Commissioner (Appeals). Hence this further Appeal. 2.The Tribunal as also the Commissioner has concluded that there was no material on record to levy and impose a penalty as ingredients of section 271(1)(c) were not satisfied. This finding of fact was rendered also by relying on the order passed by the Tribunal on the earlier occasion and on remand. The Tribunal as itxa-1644-12.doc also the Commissioner found that in the light of the disclosure made by the Assessee and fairly, he succeeded in the quantum proceedings. In such circumstances, there was no warrant to impose any penalty. To our mind, the penalty has been rightly deleted. The finding of fact cannot be said to be perverse or vitiated by any error of law apparent on the face of the record. There is no merit in this Appeal. It is dismissed. No costs. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)