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2017 (12) TMI 53 - AT - Income TaxPenalty u/s 271(1)(c) - Claim under 80IB - Held that:- Assessee followed the ratio laid down by Hon’ble Delhi High Court in the case of CIT vs. Elteck SGS Pvt. Ltd.(2008 (2) TMI 17 - DELHI HIGH COURT). Even for the previous year 2007-08 assessee’s claim under 80IB was allowed by this Tribunal against which appeal of revenue before Hon’ble Delhi High Court was dismissed. These facts has not been disputed by the authorities below in any manner whatsoever. Under these circumstances we are of the considered opinion that mere making of claims which is not sustainable in law subsequently will not amount to furnishing of inaccurate particulars regarding the income of assessee as observed by Hon’ble Supreme Court in the case of CIT vs. Reliance Petro Products Pvt.Ltd [2010 (3) TMI 80 - SUPREME COURT]. - Appeal filed by the assessee stands allowed.
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