Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 2641 - AT - Income TaxPenalty under section 271(1)(c) - capital gain addition - Held that:- The issue is covered in favour of the assessee by order of ITAT Chandigarh Bench in the case of Shri Balwinder Singh Dhillon [2015 (8) TMI 1384 - ITAT CHANDIGARH] on identical facts penalty has been cancelled and the departmental appeal has been dismissed. Further, when Hon'ble High Court has deleted the addition in the cases of assessees by following decision in the case of Shri C.S. Atwal V CIT [2015 (7) TMI 878 - PUNJAB & HARYANA HIGH COURT] therefore, nothing survives in favour of the revenue to levy the penalty under section 271 (1) (c) of the Act. In the result, there are no merits in the departmental appeals, the same are accordingly, dismissed. - Decided in favour of assessee
|