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Commissioner of Income Tax-9 Versus Verdhman Properties Ltd.

2015 (7) TMI 952 - DELHI HIGH COURT

Penalty under Section 271(1) - ITAT deleted penalty - Held that:- AO initiated penalty proceedings in respect of the addition made and confirmed it. The CIT (Appeals) was of the opinion that in the given circumstances of the case since the appellant .....

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the case. It is quite evident from the materials on record that the AO was considerably swayed by the revised return and the figures disclosed therein. The CIT(A) correctly understood the law in the light of the decision of Supreme Court in CIT V. R .....

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stantial question of law arises. - Decided in favour of assessee. - ITA No. 347/2015 - Dated:- 26-5-2015 - S. Ravindra Bhat And R. K. Gauba,JJ. For the Appellant : Mr Rohit Madan, Sr Standing Counsel For the Respondent : None ORDER 1. The revenue cla .....

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the Income Tax Act was unjustified. The assessee a private company, is engaged in real estate development business. For AY 2008-09 and 2009-10 the assessment under Section 143(3) of the Act was framed and an addition of ₹ 2,25,68,303/- was made .....

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