1 itxa1111-11+1 sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1111 OF 2011 The Commissioner of Income Tax-19 ..Appellant. V/s. Shri Rishi R. Oswal (HUF) ..Respondent. INCOME TAX APPEAL NO.1105 OF 2011 The Commissioner of Income Tax-19 ..Appellant. V/s. Ms. Bhikiben J. Oswal ..Respondent. Mr. A.S. Shivsharan for the appellant in both the appeals. Mr. B.V. Zaveri for the respondent in both the appeals. CORAM : J.P. DEVADHAR AND SMT. R.P.SONDURBALDOTA JJ. DATED : 16TH JUNE, 2011 P.C. :- 1. Whether the Tribunal was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961, is the question raised in these appeals. 2 itxa1111-11+1 2. The Tribunal in para 6 of its judgment has given detailed reasons for coming to the conclusion that the sale and purchase of the shares seems to be genuine and cannot be considered to be bogus transactions. As the decision of the Tribunal is based on finding of fact, in our opinion, no question of law arises from the order of the Tribunal. Both the appeals are dismissed with no order as to costs. (SMT. R.P.SONDURBALDOTA, J.) (J.P. DEVADHAR, J.)