K.S. Jhaveri, J.

1. By way of this appeal, the assessee has challenged the judgment and order of the Income Tax Appellate Tribunal, Rajkot 'SMC' Bench, Rajkot (For short, "the Tribunal") in ITA No. 759/RJT/2005 dated 07.11.2006, whereby the appeal filed by the assessee was dismissed.

2. At the time of admitting this Appeal, following question of law was framed:-

"(A) Whether on the facts and in the circumstances of the case the Tribunal was right in law in confirming the levy of penalty of Rs. 1,05,000/- under Section 271E of the Income Tax Act, 1961?"

3. Mr. D.R. Patel, learned counsel for the appellant submitted that the issue involved in this appeal is squarely covered by the decision of this Court in the case of Commissioner of Income-tax, Ahmedabad-IV v. Maa Khodiyar Construction reported in [2014] 45 taxmann.com 566 (Gujarat) and another decision in the case of Commissioner of Income-tax v. Shreenathji Corpn. Reported in [2015] 56 taxmann.com 439 (Gujarat). He submitted that considering the observations made in aforesaid decisions, present appeal may also be disposed of accordingly.

4. Mr. Pranav Desai, learned counsel for the respondent supported the order of the Tribun