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2015 (5) TMI 992 - AT - Income TaxPenalty u/s. 271AAA - CIT(A) deleted the penalty - Held that:- In view of the conditions laid down for claiming immunity from levy of penalty under section 271AAA of the Act as prescribed in sub-section (2) to the said section, having been fulfilled, we find no merit in the grounds of appeal raised by the Revenue in this regard. We uphold the order of the CIT(A) in deleting the penalty levied under section 271AAA of the Act in respect of income offered to tax to the extent of ₹ 97,02,632/- and cancelling the penalty to the extent of ₹ 9,70,263/-. - Decided in favour of assessee
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