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2010 (12) TMI 666 - ITAT, NEW DELHIPenalty - Amount involved pertaining to subscription for renewal of Microsoft licences - this policy has been followed by the assessee in earlier period also where it was not disturbed - in the case of Hindustan Steel vs. State of Orissa in (1969 -TMI - 39958 - SUPREME Court) wherein it was held that an order imposing penalty for failure to carry out a statutory obligation is the result of a quasi-criminal proceedings, and penalty will not ordinarily be imposed unless the party obliged either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligation Regarding interest on loan - ince the issue has been remitted to the files of the Ld. Commissioner of Income Tax (Appeals), in our considered opinion, adjudication of penalty at our level is not possible without adjudication of the same on merits by the Ld. Commissioner of Income Tax (Appeals) pursuant to the remand by the ITAT - appeal filed by the Revenue is partly allowed for statistical purposes
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