COMMISSIONER OF INCOME-TAX Vs. BLUE STAR LTD

JUDGEMENT

(1.) In this appeal by the Revenue for the assessment year 2001-02 the following questions have been raised for our consideration.

(2.) So far as question (ii) is concerned, in the quantum proceeding addition was made in respect of duty draw back and dividend income received from foreign companies. Consequent thereto the Assessing Officer levied penalty under section 271(1)(c) of the Act upon the respondent-assessee. In appeal, the Commissioner of Income-tax (Appeals) deleted the penalty. On further appeal by the Revenue the Tribunal held that amount of duty draw back and dividend income from foreign companies was offered to tax by the assessee voluntarily. The Tribunal returns a finding of fact that these amounts were offered to tax by the assessee on its own and not after detection on the part of the Assessing Officer. Further, the Tribunal also records that similar income was assessed for tax in the assessment year 2002-03 and the Assessing Officer chose not to impose penalty upon the respondent-assessee. In these circumstances, we see no reason to entertain question (ii). Accordingly, the appeal is dismissed with no order as to costs.