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Commissioner of Income Tax, Noida Versus Technip Italy Spa India Project

2015 (6) TMI 532 - ALLAHABAD HIGH COURT

Penalty u/s 271 (1)(c) - quantum of addition of ₹ 3,55,85,515/- assessed u/s 115-A - Held that:- When the addition was deleted in quantum appeal, then there is no justification for levy of the penalty. - Decided in favour of assessee. - Income .....

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impugned order dated 28.06.2013 passed by the Income Tax Appellate Tribunal, Delhi in I.T.A. No. 2101/Del./2010 for the assessment year 2002-03, where the Tribunal has cancelled the levy of the penalty under Section-271(1)(c) of the Act. On 12.12.201 .....

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d that thee return was filed on NIL income when there is no such exception carved out by the legislator in the language of Section 271 (1)(c). (2)Whether on the facts and circumstances of the case the ITAT was justified in law in concluding that sinc .....

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e facts and circumstances of the case, that ITAT erred in law in concluding that no penalty is leviable as tax sought to be evaded as NIL totally ignoring that the NIL income was after adjustment and no tax was paid on the returned income and entire .....

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the quantum addition was confirmed by the ITAT and there was no two views of taxing the income was assessed U/s 115-A." The brief facts of the case are that assessee is a company incorporated in Itlay, was awarded a turn key contract by Indian .....

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ertake construction/installation services and related design and engineering services, the consideration for which was dominated partly in Indian and partly in Foreign currency. Revenues arising to "Technip" from on shore construction, on s .....

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ut the A.O. has not accepted this plea and made the addition. At the same time on off shore supply and on estimation of the G.P., after rejecting the books of account under Section- 145 of the Act, the A.O. has levied the penalty under Section-271(1) .....

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bserved by the Tribunal that regarding the addition made on account pertaining to the fee for design and engineering under Section-115A is concerned, the matter is squarely covered in favour of assessee as per the ratio laid down in the following cas .....

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