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2019 (4) TMI 507 - ITAT AHMEDABADPenalty u/s 271(1)(c) - tax payable as per the MAT u/s 115JB - penalty imposed based on various disallowances made in normal computation - HELD THAT:- A reference to the decision in the case of Nalwa Sons Investments Ltd. (2010 (8) TMI 40 - DELHI HIGH COURT) has been made on behalf of the assessee which squarely covers the issue in favour of the assessee. The subsequent amendment to the Explanation (4) of Section 271(1)(c) also suggests the purport of the existing provisions as applicable in the relevant assessment year. Therefore, we find merit with the appeal of the assessee. AO is accordingly directed to delete the penalty imposed under normal provision when the tax liability has been fastened on the assessee under the special provisions of Section 115JB - Appeal of the Revenue is dismissed.
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