COMMISSIONER OF INCOME TAX Vs. OSHWAL EDUCATION TRUST

JUDGEMENT

(1.) Feeling aggrieved and dissatisfied with the judgment and order passed by the learned Income-tax Appellate Tribunal (hereinafter, referred to as "the Tribunal"), Rajkot Bench, Rajkot, in I.T.A. No. 84/Rjt/2013 for the assessment year 2007-08, whereby the learned Tribunal allowed the appeal preferred by the assessee and cancelled the penalty of Rs. 12,81,560 imposed under section 271(1)(c) of the Act the appellant-Revenue has preferred the present appeal with the following proposed question of law:

(2.) Feeling aggrieved and dissatisfied with the order passed by the Assessing Officer of levying the penalty under section 271(1)(c) of the Act at Rs. 12,81,560, the assessee preferred an appeal before the learned Commissioner of Income-tax (Appeals) and the learned Commissioner of Income-tax (Appeals) confirmed the order of penalty passed by the Assessing Officer. Feeling aggrieved and dissatisfied with the order passed by the learned Commissioner of Income-tax (Appeals), the assessee preferred the appeal before the learned Income-tax Appellate Tribunal and by the impugned order the learned Tribunal, by observing as under in paragraph 6 of its order, has allowed the appeal preferred by the assessee and has cancelled the penalty imposed by the Assessing Officer under section 271(1)(c) of the Act:

(3.) Feeling aggrieved and dissatisfied with the impugned judgment and order of the learned Tribunal, the appellant-Revenue has preferred the present tax appeal with the aforesaid substantial question of law.