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2018 (11) TMI 1247 - AT - Income TaxMAT u/s 115JB - levying penalty on tax sought to be evaded in respect disallowances/ additions made under computation of income under normal provisions as well computation of book profits under section 115JB - Held that:- In considered view ratio laid down in the case of CIT vs. Nalwa Sons Investments Ltd. [2010 (8) TMI 40 - DELHI HIGH COURT] is squarely applicable to the present facts of the case. Admittedly in the present case penalty has been levied on an amount which forms part of computation of book profit under section 115JB of the Act. And therefore concealment of income would have no role to play and would not lead to tax evasion. Respectfully following the decision in the case of CIT vs. Nalwa Sons Investments Ltd., (supra), which has been approved by Hon’ble Supreme Court based upon which a Circular also has been issued by CBDT, we do not find any case to interfere with. - decided against revenue.
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