TMI Blog2014 (9) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... that there was any concealment on the part of the assessee - the additions were sustained particularly in the quantum appeal by disallowing the expenditure on interpretation of the provisions of law and the part of this amount had been restored to the file of the Assessing Officer for reconsideration – the order of the Tribunal is upheld – Decided against Revenue. - TAX APPEAL NO. 846 of 2014 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal has substantially erred in upholding the order of the CIT(A) to delete the penalty levied u/s. 271(1)(c) of the Act of ₹ 81,84,043/- without appreciating the fact that the assessee had furnished inaccurate particulars of its income by claiming inadmissible claim of deduction u/s. 10A of the Act? 2. Heard Ms. Mauna Bhatt, learned Advocate appearing on behalf of the appellant-Reve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore the learned Tribunal, the Tribunal dismissed the appeal of the appellant-Revenue, relying upon / considering its own decision in the case of the very assessee for the A.Y. 2001- 02, involving the same issue of deletion of penalty. 3. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Tribunal, deleting the penalty imposed under Section 271(1)(c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the same issue of deletion of penalty imposed under Section 271(1)(c), which has been heavily relied on by the learned Tribunal, the Division Bench of this Court has observed as under in Para-3 of the said order; 3. The Tribunal, after due consideration, deleted the penalty on the ground that there was no material brought forward to prove that the assessee had furnished any inaccu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be said that the learned Tribunal has committed any error in dismissing the appeal preferred by the appellant- Revenue, deleting the penalty for the assessment year under consideration. 7. In the facts and under the circumstances of the case, no substantial question of law arise in the present Tax Appeal, and hence, present Tax Appeal deserves to be dismissed and is accordingly DISMISSED ..... X X X X Extracts X X X X X X X X Extracts X X X X
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