TMI Blog2017 (3) TMI 1714X X X X Extracts X X X X X X X X Extracts X X X X ..... duced a invalid project approval certificates. The invalidity was in respect of automatic cancellation of the permission to raise construction of building. Another ground for imposition of penalty was that possession was given to the allottees before obtaining the a completion certificates which is said to be in gross violation of condition No.7 of the approval certificate. Such facts have been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l For the Respondent : None ORDER The present appeal under Section 260-A of the Income Tax Act, 1961 arises out of an order passed by Income Tax Appellate Tribunal, Indore Bench, Indore (for short the Tribunal ) on 20.8.2015, whereby an order of Commissioner of Income Tax (Appeals) II, Bhopal dated 13.2.2014, for the assessment years 2006-07 and 2007-08 was not interfered with. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax (Appeals), wherein it was held in as under:- 4.10 In the instant case also, there is no finding on record that any details supplied by the appellant in its returns of income for these years are found to be incorrect or false and therefore, there is no question of levying penalty u/s 271(1)(c). A mere making of a claim u/s 80IB(10) which was not allowed by the assessing officer, b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Zoom Communication (P) Limited], to contend that if the issue is not debatable then the assessee is liable for penalty. We have heard learned Counsel for the appellant and find that no question of law arises for consideration in the present appeals. In the present case, the Assessing Officer found that the assessee has produced an invalid project approval certificate . The invalidity was i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction. Mere non-satisfaction of a condition of deductions will not mean that the assessee has furnished incorrect return, which will make it liable for penalty. Still further, the Commissioner of Income Tax (Appeals) and the Tribunal have given a finding of fact that there was no incorrect declaration filed by the assessee. Said is a finding of fact, which does not give rise to any substanti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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