Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (7) TMI 67 - MADRAS HIGH COURTPenalty u/s 271(1)(c) - Tribunal upheld order of Commissioner of Income Tax (Appeals), cancelling the penalty levied under Section 271(1)(c) - Held that:- Mere fact that the assessee had given up the plea of mutuality, one cannot immediately draw an inference that the assessee was lacking in bona fides in the matter of its claim - Following the decision of CIT v. Reliance Petroproducts P. Ltd. [2010 (3) TMI 80 - SUPREME COURT] and Union of India Vs. Rajasthan Spinning & Weaving Mills [2009 (5) TMI 15 - SUPREME COURT OF INDIA] - Decided against the revenue.
|