-1- bpk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 952 OF 2008 The CIT -21 : Appellant v/s Shri Haresh K. Dalal : Respondent Mr. N.A. Kazi for Appellant Mr. N. Thakkar a/w Mr. Rajesh Poojary i/b M/s. Mulla and Mulla for respondent Coram : Dr. S. Radhakrishnan S.J. Kathawalla, JJ. Date : 24.9.2008 P.C. . Heard the learned counsel for the appellant and the learned counsel for the respondent. . By the above appeal the appellant is seeking to raise the following question of law. Whether on the facts and in the circumstances of the case the Hon’ble Tribunal was right in law in deleting the penalty of Rs.1.10 crores & Rs.43.29 lac imposed by the Assessing Officer u/s 271(1)(C)of the Act? . We have perused the judgment of the Income Tax Appellate Tribunal dt. 28.1.2008 specially for the reasons stated in paragraphs 6,7 and 8 it is explicitly clear that the Tribunal has accepted -2- plausible explanation given by the assessee and the figures as given by the assessee have not been found to be false. Over and above the tribunal has clearly observed that the reason for the claim of expenditure given by the assessee being the opinion of the assessee, had not found favour with the assessing authority an the appellate authorities would not make the action of the assessee susceptible for concealment penalty. In such circumstances there is no substantial question of law involved in the above appeal. Appeal stands dismissed. (S.J. Kathawalla,J.) (Dr. S.Radhakrishnan,J.)