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2015 (9) TMI 1244 - HC - Income TaxPenalty levied u/s 271 (1) (c) - AO disallowed the claim by referring to the Explanation under Section 80I A (13) - ITAT deleted the penalty - Held that:- In the facts of the present case, the view taken by the ITAT that the deduction claimed was bona fide and on the basis of the certificate of the auditors appears to be a plausible one and cannot be said to be suffering from any perversity. This was not a case whether the Assessee had not disclosed the full details. It had claimed the deduction only on the basis of the report of the auditors as required by the Act.- Decided in favour of the Assessee.
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