TMI Blog2016 (8) TMI 1389X X X X Extracts X X X X X X X X Extracts X X X X ..... ARAT HIGH COURT] wherein the question of law was answered in favour of the assessee and against the Revenue and consequently, the penalty imposed was quashed and set aside, we are of the view that the issues raised in this Appeal are to be answered in favour of the assessee and against the Department. - TAX APPEAL NO. 800 of 2008 - - - Dated:- 10-8-2016 - MR. KS JHAVERI AND MR. G.R.UDHWANI, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 8,36,601/-? B) Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal, was right in law in upholding the order of CIT(A) to confirm the penalty under Section 271(1)(c) of the Income-tax Act, 1961 in respect of addition of ₹ 2,09,150/- sustained in appeal? 3. Learned Counsel for the appellant assessee Mr. S.N. Divatia has submitted that when t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the opinion that assessment made is just and proper. The statements made in the affidavits are not based on any record or corroborated with cogent evidence. The presumption raised by the papers which were seized from the custody of the appellant had not been rebutted. Therefore, the issues raised in appeals no. 461 to 464 of 2000 are required to be answered in the affirmative and against the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t would be relevant to refer to a decision of the Apex Court in the case of Asst. Commissioner of Income-tax v. Gebilal Kanhaialal, HUF, [2012] 348 ITR 561 (SC) wherein, it has been held that the only condition which was required to be fulfilled for getting the immunity, after the search proceedings got over, was that the assessee had to pay the tax together with interest in respect of such undi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hand, learned Counsel for the respondent Department has submitted that in view of the bogus purchases, the order of penalty may be confirmed. 6. We have heard learned Counsel for the respective parties and perused the records of the case. Taking into consideration the order the Tribunal, the evidence which has surfaced on record as well as the decision of this Court in the case of Vijay Prot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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