1 IN HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS 28TH DAY OF SEPTEMBER, 2015 PRESENT HON'BLE MR. JUSTICE VINEET SARAN AND HON BLE MR. JUSTICE B.MANOHAR ITA NO.276/2015 BETWEEN 1. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL REVENUE BUILDING, MYSORE-570008. 2. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE. ... APPELLANTS (By Sri. E I SANMATHI, ADV., ) AND: SRI. S.K. SRINIVASA NO.1, BLOCK, BEHIND AISHWARYA PETROL BUNK, VIJAYANAGAR 3RD STAGE, MYSORE PAN NO.AHQPS3208P ... RESPONDENT 2 This ITA / Income Tax Appeal is filed Under Sec.260-A of Income Tax Act 1961, arising out of order dated:10/12/2014 passed in ITA No.390/Bang/2014, for Assessment Year 2005-2006 with prayer to decide foregoing question of law and / or such other questions of law as may be formulated by Hon'ble Court as deemed fit and set aside appellate order dated: 10/12/2014 passed by ITAT, 'A' Bench, Bangalore, in appeal proceedings in ITA No.390/Bang/2014 for assessment year 2005-06, as sought for in this appeal; and to grant such other relief as deemed fit, in interest of justice. THIS ITA COMING ON FOR ADMISSION THIS DAY, VINEET SARAN J. DELIVERED FOLLOWING: JUDGMENT Heard Sri E.I.Sanmathi, learned counsel for appellants and perused record. 2. This appeal has been filed raising following substantial question of law: Whether under facts and in circumstances of case, Tribunal was right in law in canceling penalty levied under 3 Section 271(1)(c) overlooking provisions of Act and even when all ingredients are satisfied for levy of penalty under Section 271(1)(c) of I.T.Act in case of assessee? 3. Tribunal has allowed appeal filed by assessee holding notice issued by Assessing Officer under Section 274 read with Section 271(1)(c) of Income Tax Act, 1961 (for short Act ) to be bad in law as it did not specify which limb of Section 271(1)(c) of Act, penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. Tribunal, while allowing appeal of assessee, has relied on decision of Division Bench of this Court rendered in case of Commissioner of Income Tax vs- Manjunatha Cotton and Ginning Factory (2013) 359 ITR 565. 4 4. In our view, since matter is covered by Division Bench of this Court, we are of opinion, no substantial question of law arises in this appeal for determination by this Court. appeal is accordingly dismissed. Sd/- JUDGE Sd/- JUDGE TL PRINCIPLE COMMISSIONER OF INCOME TAX / DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE v. SRI S.K. SRINIVASA