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2019 (4) TMI 1176 - HC - Income TaxPenalty u/s 271(1)(c) - deduction u/s 80IC - quantum decided in favour of assessee - HELD THAT - It is an undisputed fact that the matter re very quantum of tax liability stands decided in favour of the respondent- assessee by the Hon ble Supreme Court in Pr. Commissioner of Income Tax, Shimla versus M/s Aarham Softronics 2019 (2) TMI 1285 - SUPREME COURT and other connected matters. As a necessary corollary, the deletion of penalty by the ITAT would be fully justified and would leave no scope to raise any substantial question of law in this appeal.
Issues involved:
Deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961. Analysis: The judgment by the High Court of Himachal Pradesh dealt with the issue of the deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961. The court considered the substantial question of law raised in the appeal, which questioned the deletion of a penalty amounting to a specific sum. The court noted that the tax liability matter had been previously decided in favor of the respondent-assessee by the Supreme Court in a related case. As a result, the court found that the deletion of the penalty by the ITAT was justified based on the previous decision regarding the tax liability. Therefore, the court concluded that there was no scope to raise any substantial question of law in this appeal and accordingly disposed of the case. The judgment highlighted the importance of the previous decision by the Supreme Court in determining the outcome of the penalty deletion issue. This analysis demonstrates how the court carefully considered the legal provisions and previous judgments to reach a decision on the deletion of the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The court's reliance on the previous decision by the Supreme Court in a related case shows the significance of precedent in legal proceedings. By aligning the current case with the established legal principles, the court was able to provide a clear and reasoned judgment on the matter at hand. The judgment serves as a reminder of the importance of legal precedent and how it can impact the outcomes of similar cases in the future.
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