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2004 (8) TMI 57 - HC - Income TaxAssessing Officer disallowed the claim for deduction under section 80-I and also initiated proceedings penalty u/s 271(1)(c) - deduction was supported by the requisite certificate of the chartered accountants - conduct of the chartered accountant who in first issuing a certificate and then denying it altogether - It is an admitted position that the claim of deduction was duly supported by the certificate of the chartered accountant on the prescribed format. In this view of the matter, no fault can be found with the claim of the assessee that it had claimed the deduction in a bona fide manner - No substantial question of law arises out of the order of the Tribunal for consideration by this court – penalty not leviable
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