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2019 (3) TMI 264 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance of claim u/s 80IA for violation of sub section (8) - debatable issue - HELD THAT:- Undisputedly, this is a case where the penalty levied pertains to an issue in respect of which the Hon’ble Delhi High Court, in assessee’s own case, for the relevant assessment year has framed substantial question of law. Thus, it is very much apparent that the issue is a debatable issue. Accordingly, in view of judgment of the Hon’ble Delhi High Court in the case of CIT vs. Liquid Investment & Trading Company (2010 (10) TMI 1021 - DELHI HIGH COURT), we find no reason to interfere with the act of the Ld. CIT (Appeals) in deleting the penalty. - Decided in favour of assessee.
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