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2012 (7) TMI 596 - AT - Income TaxPenalty levied u/s. 271(1)(c) - CIT(A) deleted the penalty - Held that:- In respect of commission paid to party and ERP Software expenses incurred on ERP software, the assessee has filed along with the return of income audit report and other relevant statements in support of such claims and also during the course of assessment proceedings the assessee further submitted all the information and explanations as required by the A.O. - The explanation offered by the assessee in support of such claims were not found false by the A.O. Therefore, merely because assessee’s claim has been disallowed, it cannot be said that the assessee is also guilty of concealment of income or furnishing of inaccurate particulars of income - no material or evidence for arriving at a reasonable conclusion that amount of addition under consideration represent the income of the assessee. Penalty levied on salary & marketing expenses - Held that:- As on similar facts penalty imposed by the A.O. was deleted by ld. CIT(A) as upheld by the tribunal for the assessment year 1999-2000 thus respectfully following the same, the order passed by ld. CIT(A) deleting the penalty is hereby confirmed - decided in favour of assessee.
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