TMI Blog2012 (8) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the assessee approached the Hon ble Bombay High Court against the quantum order passed by the Tribunal against the assessee and the substantial question of law has been admitted by the Hon ble Bombay High Court. A copy of the order admitting the substantial question of law on this issue has been placed on page 16 of the paper book. In the light of the admission of substantial question of law on this issue, the learned AR submitted that no penalty can be sustained. In support of this proposition, he relied on certain decisions. The learned Departmental Representative fairly conceded that the solitary issue which was decided by the Tribunal against the assessee has been admitted as substantial question of law by the Hon ble Bombay High Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d penalty is ordered to be deleted. 4. In the result, the appeal is allowed. 6. ITA No.6515/Mum/2011 is an appeal by the assessee in relation to the assessment year 2008-2009. 7. First two grounds of the appeal raised by the assessee are against the confirmation of disallowance of depreciation on motor car amounting to ₹ 16,93,546 and motor car insurance amounting to ₹ 10,633. Briefly stated the facts of the case are that the assessee filed his return declaring total income of ₹ 71,47,690 which inter alia included share of profit from M/s.Skylark Build and M/s.Shree Vrunda Enterprises exempt u/s 10(2A) of the Act. The Assessing Officer observed that the assessee claimed depreciation on car amounting to ₹ 16. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these two grounds are that the assessee claimed deduction u/s 80G at ₹ 2,50,000 by claiming to have made donations of ₹ 5 lakh. Since receipt worth ₹ 1 lakh was attached with the return of income, the A.O. allowed deduction on such ₹ 1 lakh at ₹ 50,000. No further relief was allowed in the first appeal. 10. Before us the learned Counsel for the assessee contended that the assessee made donation of ₹ 5 lakh and at the material time it was not in the possession of the donation receipts worth ₹ 4 lakh. It was submitted that the same are now available with the assessee which can be examined at the end of the Assessing Officer. Without going into the merits of the ground, we are of the considered opi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
