2012 (11) TMI 928

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.... MR TUSHAR P HEMANI for Opponent(s): 1,   MS VAIBHAVI K PARIKH for Opponent(s): 1,   ORAL ORDER   (Per : HONOURABLE MS JUSTICE SONIA GOKANI)   Revenue has challenged the order of the Tribunal dated 22nd October 2010 proposing following question for our consideration : "Whether the Appellate Tribunal is right in law and on facts in deleting the penalty of Rs.31,97,700/- lev....

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....sing aforementioned question of law. The Tribunal has essentially relied on an earlier case of Dr.Satish Gupta where identical question had been decided. It found that there was no variation in the returned income and therefore, there was no basis for levying of penalty. It emerges further from the record that neither there was any question of concealment of any particulars of income nor was ther....