1 itxa5552-10 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.5552 OF 2010 The Commissioner of Income Tax - 5 ..Appellant. Versus M/s.Aligad Investment and Finance Pvt. Ltd. ..Respondent. Mr.Suresh Kumar for the appellant. Mr.Mandar Vaidya i/by Roy's Law firm for the respondent. CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ. DATE : 1st July, 2011. P.C. : 1. Whether the Income Tax Appellate Tribunal was justified in deleting the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961 is the question raised in this appeal. 2. The Tribunal in para 4 of its order has recorded a finding of fact that in the present case the assessee had claimed expenditure on account of of legal / professional charges incurred in connection with the retention of control and management, which were disallowed and in such a case penalty cannot be levied as it was not a case of concealing the particulars of income or furnishing inaccurate particulars of income so as to attract the penal provisions of Section 271(1)(c). The decision of the Tribunal is based on finding of fact. No substantial question of law arises from the order of the Tribunal. The appeal is accordingly dismissed with no order as to costs. (Smt.R.P. Sondurbaldota, J.) (J.P. Devadhar, J.)