9911796707
TMI Blog2013 (4) TMI 212X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, 1961 by the Income Tax Appellate Tribunal, Jabalpur in R.A.99/Jab/1996 by which following question has been referred for the opinion of this Court. "Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in cancelling penalty u/s 271(1)(c) levied by the A.O. at Rs.1,20,000/-?" Learned counsel appearing for the petitioner submits that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e factual position in the case is stated. The respondent was an assessee under the Income Tax Act and assessment order was framed, in which the rental income was found to be sham as it was subterfuge to reduce the burden of taxation by the assessee and the assessing officer had directed addition of the rental amount in the income of the respondent. The order passed by the assessing officer directi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,20,000/- on the respondent. This order was assailed before the CIT(A) but the appeal was dismissed. Thereafter, the matter travelled to the Income Tax Appellate Tribunal, Jabalpur in ITA No.693(JBL)/91 and the Tribunal had found that the addition of the income was already set aside, as per order passed by the Tribunal, so there was no question of imposition of penalty and set aside the order dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set aside the order, in which no error is found. In the opinion of this Court, in the facts and circumstances of the case, the Tribunal was justified in law in setting aside the penalty under Section 271(1)(c) of the Income Tax Act levied against the respondent. The question as referred by the Tribunal is answered in favour of the respondent and against the revenue. The opinion of this Court be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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