The Commissioner Of Income Tax vs M/S Zila Sahkari Bank Ltd.
2011 Latest Caselaw 5910 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 32
 

 
Case :- INCOME TAX APPEAL No. - 259 of 2008
 

 
Petitioner :- The Commissioner Of Income Tax
 
Respondent :- M/S Zila Sahkari Bank Ltd.
 
Petitioner Counsel :- A.N. Mahajan/S.C.
 

 
Hon'ble Sunil Ambwani,J.

Hon'ble Naheed Ara Moonis,J.

Shri A.N. Mahajan, learned counsel for revenue submits that the appeal on quantum of the total income being Income Tax Appeal No. 158 of 2008 in respect of the same assessee has been admitted on 28.7.2011. The question in this case involves penalty in the similar proceedings.

This appeal is accordingly admitted on the question of law as follows:-

"Whether on the facts and in the circumstances of the case, the Hon'ble Tribunal was justified in law in upholding the order of the Ld. CIT (A) in cancelling the penalty of Rs. 3, 00, 00, 000/- imposed by the AO u/s 271 (1) (c) of the Act on the ground that since the addition made in the assessment order on the basis of which penalty for concealment was levied stood deleted, there remained no basis at all for levying the penalty for concealment, without appreciating the fact the department has not accepted the order of the Hon'ble Tribunal against the quantum appeal and appeal u/s 260A has been filed before the Hon'ble High Court which is still subjudice."

Connect with Income Tax Appeal No. 158 of 2008.

Order Date :- 17.11.2011

RKP