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2016 (7) TMI 56 - HC - Income TaxPenalty levied u/s 271(1)(c) - excessive claim u/s 10A - Held that:- As in quantum proceedings, the respondent assessee had succeeded and the Tribunal by an order [2012 (6) TMI 622 - ITAT PUNE ] set aside the disallowance on account of partial denial of deduction under Section 10A of the Act while restoring it to the Assessing Officer for fresh consideration. Also it is an admitted position between the parties that the appeals filed by the Revenue against the above ITAT order in quantum proceedings [2014 (9) TMI 1060 - BOMBAY HIGH COURT] were dismissed by the order of HC the penalty proceedings at this stage are unsustainable - Decided in favour of assessee
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