Supreme Court - Daily Orders
Commr. Of Income Tax. vs M/S Balaji Vegetable Products (P) Ltd. on 16 October, 2015
Bench: A.K. Sikri, Rohinton Fali Nariman
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 72 OF 2008
COMMISSIONER OF INCOME TAX ... Appellant
VERSUS
M/S BALAJI VEGETABLE PRODUCTS (P) LTD. ... Respondent
O R D E R
The assessee had filed the income-tax return wherein a deduction against payment of Rs. 12 lakhs was claimed on the ground that it was lease rent. The Assessing Officer, however, rejected the aforesaid claim of the assessee-respondent holding that the aforesaid amount was paid as license fee and not as lease rent and, therefore, brought the payment of aforesaid amount to tax.
At the same time, another notice was issue to the respondent under Section 271(1)(c) of the Income Tax Act and penalty proceedings were initiated. Though the penalty was imposed under the aforesaid provision by the Assessing Officer, ultimately, the High Court vide the impugned judgment has set aside the penalty.
On the aforesaid facts, we are of the opinion that the approach of the Tribunal is absolutely correct inasmuch as there was no willful concealment or mis-statement by the assessee in the given circumstances.
This appeal is, accordingly, dismissed. Signature Not Verified ......................., J. Digitally signed by
ASHWANI KUMAR [ A.K. SIKRI ] Date: 2015.10.28 17:24:04 IST Reason: ......................., J.
New Delhi; [ ROHINTON FALI NARIMAN ] October 16, 2015.
ITEM NO.113 COURT NO.14 SECTION IIIA
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No. 72/2008
COMMR. OF INCOME TAX. Appellant(s)
VERSUS
M/S BALAJI VEGETABLE PRODUCTS (P) LTD. Respondent(s)
(With office report)
Date : 16/10/2015 This appeal was called on for hearing today. CORAM :
HON'BLE MR. JUSTICE A.K. SIKRI HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN For Appellant(s) Mr. A. K. Sanghi, Sr. Adv. Ms. Purnima Bhat Kak, Adv. Ms. Anil Katiyar, Adv.
Mr. B. V. Balaram Das, Adv.
For Respondent(s) Mr. Sanjay Kumar, Adv.
Mr. Ramesh Keswani, Adv. M/s. Keswani & Co.
UPON hearing the counsel the Court made the following O R D E R The appeal is dismissed in terms of the signed order.
(Nidhi Ahuja) (Renu Diwan)
COURT MASTER COURT MASTER
[Signed order is placed on the file.]