Penalty order to be quashed if issue already been decided in Assessee’s favour

HIGH COURT OF GUJARAT Commissioner of Income-tax-IV versus Shree Rama Multi Tech Ltd. TAX APPEAL NO. 221 of 2012 Date of Pronouncement- 21.01.2013 ORDER 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal (‘the Tribunal’ for short) dated 21.10.2011 raising following question for our consideration : “Whether the Appellate Tribunal has substantially erred in deleting the penalty levied u/s.271(1)(c) of the Act?” 2. Issue pertains to penalty imposed by the Assessing Officer under section 271(1)(c) of the Act for different add...