In The Commissioner Of Income Tax v. M/S. Olympic Management & Financial Services Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: In this view of the matter appeal stands dismissed in limini for want of substantial question of law with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L) NO. 1371 OF 2008
The Commissioner of Income Tax
Vs.
M/s. Olympic Management & Financial Services Ltd.
..Appellant
..Respondent
Mr. P.S. Sahadevan for appellant.
None for respondent.
CORAM :- V.C.DAGA &
J.P.DEVADHAR,JJ. 23[rd] June,2009
DATE :
P.C.
Heard learned counsel for the Revenue. Perused the impugned order. The question arising out of the impugned order revolves around appreciation of evidence and after appreciating the evidence the Tribunal has recorded a clear finding of fact that since quantum addition has been deleted, therefore, levy of of penalty does not survive. In this view of the matter appeal stands dismissed in limini for want of substantial question of law with no order as to costs.
(J.P.DEVADHAR,J.)
(V.C.DAGA,J.)
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