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CIT Versus HCIL KALINDEE ARSSPL, HCIL ARSSPL TRIVENI (JV)

2015 (9) TMI 1244 - DELHI HIGH COURT

Penalty levied u/s 271 (1) (c) - AO disallowed the claim by referring to the Explanation under Section 80I A (13) - ITAT deleted the penalty - Held that:- In the facts of the present case, the view taken by the ITAT that the deduction claimed was bon .....

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only on the basis of the report of the auditors as required by the Act.- Decided in favour of the Assessee. - ITA 480/2012, ITA 481/2012 - Dated:- 23-9-2015 - S. Muralidhar And Vibhu Bakhru, JJ. For the Appellant : Mr Rohit Madan, Advocate For the R .....

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- 08 allowing the appeals in favour of the Assessees both of whom are joint ventures. 2. The question of law framed in both these appeals is Whether the ITAT erred in law and on merits in deleting the penalty levied u/s 271 (1) (c) of the Income Tax .....

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ion under Section 80I A (13) of the Act. The additions directed to be made by the AO attained finality with the Assessee not challenging the said order. 4. The AO ordered penalty proceedings to be initiated against the Assessee for furnishing inaccur .....

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uction was claimed by the Assessee in the return filed on 1st November 2007 i.e. within the six months thereafter. The deduction was claimed on the basis of the report of the Chartered Accountant in Form 10 CCB. The ITAT accepted the submission of th .....

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