Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (9) TMI 242 - AT - Income TaxLevy of penalty u/s. 271(1)(c) - assessment of commission income - business income or salary income - Survey under section 133A - Reopening of assessment u/s 148 escaped income - Held that:- The issue in dispute is squarely covered in favour of the assessee by the various decisions of the ITAT, Hon’ble High Courts and the Hon’ble Apex Court, because in the present case debatable issue is involved and Leave has been granted by the by the Hon’ble Supreme Court of India in the case of assessee [2013 (4) TMI 870 - SUPREME COURT] (from the judgment and order 2012 (12) TMI 168 - DELHI HIGH COURT). Hence, the penalty cannot be levied when the addition is made on debatable issue and appeal is admitted in Hon’ble High Court/ Hon’ble Supreme Court. - Decided in favor of the assessee
|