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TMI Blog2019 (4) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... [2010 (3) TMI 80 - SUPREME COURT] Secondly, the appeal of the Revenue itself is not maintainable owing to low tax effect in terms of CBDT Circular No.3 of 2018 dated 11/07/2018. Therefore, the appeal of the Revenue is dismissed on both counts. - I.T.A. No. 3452/Ahd/2016 With Cross Objection No. 15/Ahd/2017 - - - Dated:- 28-3-2019 - Shri Pradip Kumar Kedia, Accountant Member And Shri Mahavir Prasad, Judicial Memebr For the Assessee : Shri Anil Kshat riya Shri Alay Kshatr iya, A.Rs. For the Revenue : Shri Vinod Tanwani, Sr . D.R. ORDER PER PRADIP KUMAR KEDIA - AM: The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-1, Ahmedabad ( CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... placed on record which facts in themselves have not been found to be untrue, the imposition of penalty under s. 271(1)(c) of the Act is not justified merely on the ground that the purpose of travel could not be demonstrated to the satisfaction of the AO. The learned AR submitted that out of the substantial additions, all the additions have been deleted and a small amount towards foreign travel has been retained by the Tribunal which has not been challenged due to smallness involved. The learned AR submitted that merely because some disallowance has been carried out that does not ipso facto give inference of any concealment or furnishing of inaccurate particulars per se. The learned AR thus submitted that no interference with the order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xpenses are available on record. In the circumstances, notwithstanding, the disallowance confirmed by the Tribunal in the quantum proceedings, the penalty of strict nature is not sustainable in view of long line of judicial precedents including the decision of the Hon ble Supreme Court in Reliance Petroproducts 322 ITR 158 (SC). Secondly, the appeal of the Revenue itself is not maintainable owing to low tax effect in terms of CBDT Circular No.3 of 2018 dated 11/07/2018. Therefore, the appeal of the Revenue is dismissed on both counts. 7. The cross objection raised by the assessee is also dismissed as infructuous owing to aforesaid reasons. 8. In the combined result, both the appeal of the Revenue and cross objection of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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