Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (9) TMI 59 - ITAT AHMEDABADPenalty U/s.271(1)(c) - addition made on account of claim of depreciation, deduction claimed u/s.80IA and disallowance of deduction u/s.80IB - CIT(A) deleted penalty - Held that:- We find that this issue being debatable and there being decisions in favour of the assessee at the time of filing of return for the relevant assessment year, it could not be said that the conduct of the assessee in claiming the deduction was not bona fide. In this view of the matter, we hold that it is not a fit case for levy of penalty u/s.271(1)(c) of the Act which was accordingly cancelled by the CIT(A) and the order of Ld.CIT(A) is confirmed. - Decided in favour of assessee.
|