Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (2) TMI 1066 - AT - Income TaxPenalty levied u/s. 271(1)(c) - disallowance u/s. 40(a)(ia) r.w.s. 194C - Held that:- Commissioner of Income Tax (Appeals) confirmed the addition. In second appeal, the Tribunal granted part relief to the assessee. Against the findings of the Tribunal, the assessee filed appeal before the Hon'ble Bombay High Court wheren Hon'ble High Court was pleased to admit the appeal as it involved substantial question of law. Hon'ble Bombay High Court in the case of CIT Vs. Nayan Builders & Developers (P.) Ltd.(2014 (7) TMI 1150 - BOMBAY HIGH COURT) has held that no penalty is leviable where the issue is debatable and the High Court has admitted the appeal as it involves substantial question of law. - Decided in favour of assessee
|