The Commissioner Of Income Tax v. Upendra V.mithani

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L)NO.1860 OF 2009 The Commissioner of Income Tax ..Appellant Vs. Upendra V.Mithani ..Respondent Ms.Suchitra Kamble for appellant. CORAM :- V.C.DAGA &J.P.DEVADHAR,JJ. 5TH AUGUST, 2009 DATE : P.C. Heard learned Counsel for the appellant. 2.The issue involved in the appeal revolves around deletion of penalty under Section 271(1)(c) of the I.T.Act. The Tribunal has concurred with the view taken by the Commissioner of Income Tax (A). The Commissioner of Income Tax (A) has rightly taken a view that no penalty can be imposed if the facts and circumstances are equally consistent with the hypothesis that the amount does not represent concealed income as with the hypothesis that it does. If the assessee gives an explanation which is unproved but not disproved, i.e. it is not accepted but circumstances do not lead to the reasonable and positive inference that the assessee’s case is false. The view taken by the Tribunal is a reasonable and possible view. The appeal is without any substance. The same is dismissed in limine with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)