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2013 (4) TMI 697 - ITAT KOLKATAPenalty u/s 271(1)(c) - Depreciation claim - Held that:- there is no doubt the claim of depreciation by the assessee was wrong but the assessee has filed complete particulars qua these assets and also in the claim of depreciation in audit report and in the return of income and nothing was concealed from the Department. In such circumstances, respectfully following the decision in the case of Usha Martin Ventures Ltd. [2011 (5) TMI 895 - CALCUTTA HIGH COURT], we are of the view that penalty levied by the Assessing Officer has rightly been deleted by the Commissioner of Income-tax (Appeals). - Decided against Revenue.
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