TMI Blog2009 (11) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... finding by the Tribunal that the appellate authority accepting the cause shown by the assessee under section 271(1)(c) for deleting the order of penalty imposed under section 271(1)(c). the order of cancellation was valid. - 188 of 2007 - - - Dated:- 6-11-2009 - V. G. SABHAHIT and S. N. SATYANARAYANA JJ. M. V. Seshachala for the appellants. S. Parthasarathi for the respondent. JUDGMENT The judgment of the court was delivered by 1. V. G. Sabhahit J.-This appeal by the Revenue is filed being aggrieved by the order of the Income-tax Appellate Tribunal, Panaji Bench, Panaji in I.T. A. No. 04/PANJ/2005 for the assessment year 2000-01 dated September 6, 2006, wherein the appeal filed by the Revenue has been dismissed confirm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty by order dated December 16, 2004, allowed the appeal and accordingly the levy of penalty of Rs. 4,35,500 imposed under section 271(1) (c) had accepted the explanation offered. Being aggrieved by the said order passed by the appellate authority, the Revenue preferred an appeal before the Income-tax Appellate Tribunal, Panaji Bench in I. T. A. No. 64/ Panj/2005 and the Tribunal by its order dated September 6, 2006, dismissed the appeal and confirmed the order passed in appeal dated December 16, 2004, and being aggrieved by the same, this appeal is filed under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). The appeal has been admitted on August 10, 2007, for considering the following substantial questions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and against the assessee. 4. On the other hand, learned counsel for the respondent submitted that the order passed by the Tribunal confirming the order passed by the appellate authority accepting the explanation shown by the assessee and confirming the order setting aside the order of penalty passed by the appellate authority would show that there is concurrent finding on the question of fact which does not suffer from any perversity or arbitrariness and wherefore when both the appellate authority and the Tribunal have accepted the explanation given by the appellant, having regard to the amount of penalty imposed and specific facts and circumstances of the case, this is not a fit case for interfering with the order passed by the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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