The Commissioner Of Income Tax v. Shri. Mabahal S.shetty

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO. 285 OF 2009 INCOME TAX APPEAL (L) NO. 285 OF 2009 The Commissioner of Income Tax ... Appellants Versus Shri. Mabahal S.Shetty .... Respondent Mr. S.K. Bhatnagar with Mr.N.R. Prajapati for Appellants. None for Respondent. CORAM: F.I. REBELLO, & R.S. MOHITE, JJ. DATED: MARCH 03, 2009 P.C. P.C. . Admit on the following questions: "(a) Whether on the facts and in the circumstances of the case the Hon’ble Tribunal was justified in reducing the quantum of penalty levied by Addl. CIT u/s. 271D by stating that the penalty be levied after adjustment of permissible amount of Rs.20,000/- which is relevant to section 269SS of the Income Tax Act, 1961? (b) Whether on the facts and in the circumstances of the case the Hon’ble Tribunal has erred in interpretation of Section 271D as they clearly state that the Assessee shall be liable to pay by way of penalty, a sum equal to the amount taken/accepted or repaid? (c) Can the amount of penalty leviable u/s. 271D as mentioned in the Sections be interpreted to mean an amount which is above the basic exemption limit of Rs.20,000/-?" . Respondent waives service. . The Revenue to take steps to remove office objections within six weeks from today failing which the appeal stands dismissed for non prosecution without further orders from this court.