srk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO. 2131 OF 2008 The Commissioner of Income Tax ..Appellant Vs. Vijayshree Reality Pvt. Ltd. ..Respondent Mr. J.S. Saluja for appellant. None for respondent. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. DATE : 29th June, 2009 P.C. Heard learned Counsel for the Revenue. The question relates to deleting the penalty levied u/s 271 (1)(c) of the Income Tax Act. During the course of hearing, we were taken to the order passed by the Tribunal. The Tribunal has categorically recorded a finding of fact in following words: “It is well settled law that, for the purpose of levy of penalty the AO is required to establish that explanation furnished by the assessee is false or the same is not bonafide, and that all the material facts relating to computation of income have not been disclosed. In this case, the assessee made complete disclosure and merely because a different method of accounting is followed by the assessee for the assessment year under appeal, in our opinion, is not a valid ground to levy penalty u/s 271(1)(c). Hence, penalty of Rs.12,32,112/- levied by the AO and confirmed by the CIT(A) is cancelled.” Considering the factual aspect which is based on the appreciation of evidence, no substantial question of law is involved in the present appeal. No case is made out to entertain the appeal. In this view of the matter, appeal stands dismissed in limini for want of substantial question of law with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)