COMMISSIONER OF INCOME TAX Vs. DHARAMSHI B. SHAH

JUDGEMENT

(1.) Being aggrieved and dissatisfied with the impugned judgment and order passed by the Income-tax Appellate Tribunal, 'B' Bench, Ahmedabad (hereinafter referred to as "the Tribunal"), dated July 5, 2013, in I.T.A. No. 1116/Ahd/2010 for the assessment year 1995-96 deleting the penalty imposed by the Assessing Officer confirmed by the Commissioner of Income-tax (Appeals), the Revenue has preferred the present tax appeal raising the following substantial questions of law:

(2.) In response to the notice for final disposal issued by this court, Shri Bandish Soparkar, learned advocate has stated that he has instructions to appear on behalf of the respondent-assessee and he has filed the vakalatnama with the Registry.

(3.) Shri Parikh, learned advocate appearing on behalf of the appellant-Revenue, has submitted that as such the issue/questions involved in the present tax appeal is squarely covered by the decision of this court in the case of CIT v. Prakash S. Vyas rendered in Tax Appeal No. 606 of 2010. It is submitted that in the present case also the Tribunal has deleted the penalty imposed by the Assessing Officer confirmed by the Commissioner of Income-tax (Appeals) solely on the ground that the appeal against the order passed by the Income-tax Appellate Tribunal is admitted by the High Court and, therefore, the issue is not free from debate and, consequently, the Tribunal has set aside the penalty. It is submitted that the aforesaid is not accepted by the Division Bench of this court in the case of CIT v. Prakash S. Vyas rendered in Tax Appeal No. 606 of 2010. It is submitted that, therefore, the impugned order passed by the Tribunal is required to be quashed and set aside and the matter is required to be remanded to the Tribunal to decide the appeal afresh in accordance with law and on its own merits.