bsb IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPEAL NO. 234 OF 2005 TAX APPEAL NO. 234 OF 2005 TAX APPEAL NO. 234 OF 2005 The Commissioner of Income Tax-3, R.No.612, 6th flr., Ayakar Bhavan, M.K.Road, Mumbai-400 020. ... Appellant v/s M/s.Shree Nirmal Commercial Ltd., United India Bldg., 2nd floor, Sir P.M.Road, Mumbai - 400 001. ... Respondent Mr.Vimal Guha with Mr.P.S.Sachdevan for the appellant. Mr.A.R.Singh for the respondent. CORAM: CORAM: CORAM: F.I.REBELLO AND F.I.REBELLO AND F.I.REBELLO AND R.S.MOHITE, R.S.MOHITE, R.S.MOHITE, JJ. JJ. JJ. DATED: DATED: DATED: 19TH MARCH, 2008. 19TH MARCH, 2008. 19TH MARCH, 2008. P.C. P.C. P.C.: 1. The Tribunal confirmed the order passed by the Commissioner of Income Tax. The Tribunal held that the assessee proceeded on the basis of the judgment of this Court and the Karnataka High Court. The proposition of law contained in the said judgment was subsequently over-ruled by the Supreme Court in the case of Escorts Escorts Escorts Ltd. Ltd. Ltd. v/s Union of India, reported in (1993) 199 ITR 43 v/s Union of India, reported in (1993) 199 ITR 43 v/s Union of India, reported in (1993) 199 ITR 43 (SC). (SC). (SC). In these circumstances, the Tribunal concurred with the view of the Commissioner of Appeals that the claim made by the assessee cannot be construed to be a false case nor any motive could be attributed and in 2 these circumstances, penalty should not be imposed. 2. Considering the finding of fact, in our opinion, penalising the assessee for concealment of income does not arise. 3. Consequently, appeal dismissed. (F.I.REBELLO, (F.I.REBELLO, (F.I.REBELLO, J.) J.) J.) (R.S.MOHITE, (R.S.MOHITE, (R.S.MOHITE, J.) J.) J.)