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2014 (6) TMI 668 - AT - Income TaxLevy of penalty u/s 271(1)(c) of the Act - Depreciation on leased assets and disallowance u/s 14A of the Act – Disallowance of higher depreciation on UPS - Held that:- In the earlier assessment year, it has been held that the disallowance on depreciation on leased assets is set aside, the order of the FAA is set aside and the AO is directed to allow depreciation on leased assets - no ground for penalty survives - for disallowance of depreciation on UPS at 60% it was treated as a part of the computer system - penalty on this issue would stand to be necessarily set aside. Disallowance of incremental commission – Disallowance of expenditure on renovation and architect’s fees as capital expenditure - Held that:- The disallowance as finally sustained by him and which has since been restored back to the file of the AO by the tribunal in the quantum proceedings – there is no hesitation in setting aside the and the penalty is to be set aside - CIT(A) has not adjudicated the ground, mistakenly treating the same as covered by his predecessor’s order for AY 2003-04, which does not list the disallowance - therefore, there has been an omission on the part of the CIT(A) in adjudicating the ground – the matter is to be remitted back – Decided partly in favour of Assessee.
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