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Joint Commissioner of Income-Tax vs Classic Industries Ltd.

Supreme Court Of India · Decided on 9 March 2017 · Citation: (2017) 393 ITR 20 : (2017) 247 Taxman 152 : (2017) 13 SCC 80

HON’BLE JUDGES
R.K. Agrawal, J · Abhay Manohar Sapre, J
ACTS & SECTIONS REFERRED
Income Tax Act, 1961 — Section 271(L)(C)
RESULT
Disposed Of
CASE NUMBER
Civil Appeal No. 1520 of 2007(Appeal from the judgment and order dated July 27, 2006 of the Gujarat High Court in Tax Appeal No. 1798 of 2005)
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Judgment

5 paragraphs · 133 words

The present appeal has been filed against the judgment and order dated July 27, 2006 passed by the High Court of Gujarat by which the High Court has held that no penalty is leviable under section 271(1)(c) of the Income-tax Act, 1961 if the income disclosed in the return and the income assessed is nil.

2.

Learned senior counsel appearing for the appellant submitted that this question is covered against the Revenue by decision of this court in the case of Virtual Soft Systems Ltd. v. CIT reported in [2007] 9 SCC 665.

3.

Respectfully following the aforesaid decision, the judgment and order of the High Court is upheld. The appeal fails and is dismissed.

4.

There shall be no order as to costs.

5.

Pending application, if any, also stands disposed of.