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2016 (7) TMI 737 - ITAT DELHIPenalty under section 271(1)(c) - excess depreciation claimed in plant and machinery purchased under the TUF Scheme - Held that:- The facts and circumstances of the case being identical to the assessment year 2006-07, respectfully following the above precedent in the case of the assessee itself wherein it was held that merely because claim of the assessee was not accepted or not found to be acceptable by the Revenue does not amount to concealment of particulars of income or furnishing of inaccurate particulars of income we hold that no penalty under section 271(1)(c) of the Act can be sustained on the issue of excess depreciation claimed by the assessee on plant and machinery purchased under the TUF scheme and hence same is deleted. - Decided in favour of assessee
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