The Principal Commissioenr Of Income Tax (Central), Surat v. Avantis Enterprise

IN THE HIGH COURT OF GUJARAT AT AHMEDABADR/TAX APPEAL NO. 499 of 2019 ============================================= THE PRINCIPAL COMMISSIOENR OF INCOME TAX (CENTRAL), SURAT VersusAVANTIS ENTERPRISE ============================================= Appearance: MRS MAUNA M BHATT(174) for the Appellant(s) No. 1 for the Opponent(s) No. 1============================================= CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALAand HONOURABLE MR.JUSTICE A.C. RAO Date : 23/07/2019 ORAL ORDER (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1.This Tax Appeal under Section 260-A of the Income Tax Act, 1961 (for short “the Act, 1961”) is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Surat Bench, Surat, dated 25.01.2019 in the ITA No.2970/Ahd/2016 for the Assessment Year 2013-14. 2.The Revenue has proposed the following three substantial questions of law for the consideration of this Court: “[A] Whether on the facts and circumstances of the case and in law, the Appellate Tribunal was right in deleting the penalty of Rs.2,28,95,820/- levied under Section 271(1)(c) of the Act. [B] Whether on the facts and circumstances of the case and in law, the Appellate Tribunal erred in not appreciating that penalty u/s 271(1)(c) is attracted for concealment detected in the course of any proceeding under the Act, which cannot be limited to assessment proceeding and should have been held to include survey proceeding u/s 133A(1)? [C] Whether on the facts and circumstances of the case and in law, the Appellate Tribunal erred in not appreciating that even clause (a) of explanation 4 to section 271(1)(c) does not refer to returned income so as to limit the penalty u/s 271(1)(c) with reference to difference between tax on Assessed Income and Returned Income?” 3.We dismiss this Tax Appeal in view of the order dictated today by us in the Tax Appeal No.498 of 2019. This Tax Appeal also fails and is hereby dismissed. (J. B. PARDIWALA, J) (A. C. RAO, J) Dolly