2012 (12) TMI 1040

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..... . CIT(A) IV, Baroda dated 29.10.2009 for the assessment year 2000-01. The grounds raised by the assessee are as under: Because H'ble CIT (A) erred in confirming penalty levied U/s 271(1) ( c ) of ₹ 23,02,326/- for difference in the stock between the stock statement given to the bank with only intention to continually enjoy the overdraft facility already availed from Charotar Nagrik .....

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..... nt. 2. At the very outset, it was submitted by the Ld. A.R. that this issue is covered in favour of the assessee by the tribunal order in the assessee s own case for the assessment year 2001-02 in I.T.A.No. 75/Ahd/2010 dated 28.09.2012. He submitted a copy of this tribunal decision. He also submitted that the order of Ld. CIT(A) is combined order for the assessment years 2000-01 and 2001-02 a .....

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..... ered in the case of Bharat Minerals Sales Corporation as reported in 253 ITR 419. Since, no difference in the facts could be pointed out by the Ld. D.R., we find no reason to take contrary view in the present year and hence, respectfully following the tribunal order in assessee s own case for the assessment year 2001-02, we delete the penalty in the present year also. 4. In the result, the appe .....

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