The Commissioner of Income-tax-6, Mumbai v. Gala Precision Technology Pvt. Ltd
[Citation -2015-LL-0317-66]
Citation | 2015-LL-0317-66 |
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Appellant Name | The Commissioner of Income-tax-6, Mumbai |
Respondent Name | Gala Precision Technology Pvt. Ltd. |
Court | HIGH COURT OF BOMBAY |
Relevant Act | Income-tax |
Date of Order | 17/03/2015 |
Assessment Year | 2004-05 |
Judgment | View Judgment |
Keyword Tags | additional depreciation • imposition of penalty • debatable issue |
Bot Summary: | The Tribunal deleted the penalty imposed on the respondent-assessee. It is held that in Income Tax Appeal No. 6793/Mum/2010 for the assessment year 2004-05, which is an appeal of the assessee challenging the order dated 29 th March, 2010 of the Commissioner of Income Tax he sustained the penalty of 10,55,021/-. The Tribunal found that the issue raised in the substantive appeal of the assessee was arguable. The co-ordinate Bench at Mumbai in Income Tax Appeal No.1417/Mum/2008 for the same assessment year set ::: Uploaded on - 23/03/2015 ::: Downloaded on - 25/03/2020 12:52:28 ::: 2 itxa1118-13 aside the addition made by the assessing officer on which penalty had been levied and sustained. The assessee's representative argued that the issue raised by the assessee of additional depreciation was debatable and arguable, otherwise the Tribunal would not have accepted the version of the assessee. The revenue can always impugn and challenge the finding of the Tribunal as rendered in the substantive appeal of the assessee. The present appeal does not raise any substantial question of law. |