The Commissioner Of Income Tax14, Mumbai v. M/S. Arts & Crafts Exports
High Court
07 Dec 2011 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax14, Mumbai v. M/S. Arts & Crafts Exports
Date of order
07 Dec 2011
Assessment year(s)
2004-2005
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In The Commissioner Of Income Tax14, Mumbai v. M/S. Arts & Crafts Exports, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Issue: DATED : 07 1.Whether the ITAT was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961, is the question raised in this Appeal.
Decision: Accordingly, the present appeal is dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.872 OF 2011
The Commissioner of Income Tax14, Mumbai
..Appellant.
Vs.
M/s. Arts & Crafts Exports...Respondent.
....
Mr. D.K. Kamwal, for the Appellant.....
P.C.
CORAM : J. P. DEVADHAR &
A.R. JOSHI, JJ. th DECEMBER, 2011.
DATED : 07
1.Whether the ITAT was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961, is the question raised in this Appeal.
2.The assessment year involved herein is A.Y. 2004-2005.
3.Counsel for the Revenue fairly states that the quantum additions made by the Assessing Officer by declining to grant deduction under Section 80IB/10BA of the Income Tax Act, 1961 have been deleted by the ITAT and the appeal filed by the revenue being Tax Appeal No.10
of 2011 against the said order of ITAT has been dismissed by this Court today i.e. 7th December, 2011. Since the quantum additions stand deleted, the decision of the ITAT in deleting the penalty imposed under Section 271(1)(c) cannot be faulted. Accordingly, the present appeal is dismissed.
(A. R. JOSHI, J.)
(J. P. DEVADHAR,J.)
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