In The Commissioner Of Income Tax v. M/S.siddharth Colorchem Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: In view of this finding of fact, the appeal stands dismissed 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.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.552 OF 2009
The Commissioner of Income Tax Vs.M/s.Siddharth Colorchem Ltd.
..Appellant
..Respondent
Mr.Suresh Kumar for appellant.None for respondent.
P.C.
CORAM :- V.C.DAGA &
J.P.DEVADHAR,JJ.
DATE :- 9TH JULY, 2009
Heard learned counsel for the appellant. The question of law involved in the appeal revolves around deleting the penalty levied under Section 271(C) of the Income Tax Act. The Tribunal, after appreciating the evidence, has recorded a finding of fact that no complaint can be made that the assessee has furnished inaccurate particulars of income. In view of this finding of fact, the appeal stands dismissed 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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