9911796707
TMI Blog2013 (5) TMI 898X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment years 1999-2000, 2000-01& 2002-03. 2. Since it was a common point between the parties that the facts and circumstances in all the appeals stand on an identical footing, appeal of the assessee for assessment year 2001-02 vide ITA No. 102/PN/2009 is taken up as a lead case to facilitate appreciation of the relevant facts. 3. ITA No. 102/PN/2009 is an appeal by the assessee directed against an order of the Commissioner of Income Tax (Appeals)-III, Pune dated 07.11.2008 which, in turn, has arisen from an order dated 17.03.2008 passed by the Assessing Officer, under Section 271(1)(c) of the Act, pertaining to the assessment year 2001-02. 4. The facts, in brief, are that for assessment year 2001-02 the assessee company filed a retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed by the Tribunal in ITA Nos. 401 & 402/PN/2007 dated 07.09.2011 pertaining to the assessment years 2001-02 and 2002-03, the matter relating to the disallowance of the deduction under Section 10A of the Act has been restored back to the file of the Assessing Officer to be considered afresh. A copy of the order of the Tribunal dated 07.09.2011 (supra) in the quantum appeal (i.e. ITA Nos. 401 & 402/PN/2007) filed by the assessee before the Tribunal has also been placed on record. In terms of the para 24 of the order of the Tribunal, which is a common order passed for assessment years 2001-02 and 2002-03, the issue of estimation of profit of the STP units for the purposes of computing eligible deduction under Section 10A of the Act has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the result, appeal of the assessee in ITA No. 102/PN/2009 pertaining to the assessment years 2001-02 is allowed as above. 9. We may now take up the appeal of the Department in ITA No. 1043/PN/2011 and the cross-objection of the assessee in C.O. No. 68/PN/2011 relating to the assessment year 2002-03. This appeal by the Revenue is directed against an order of the Commissioner of Income Tax (Appeals)-III, Pune dated 31.12.2010 which, in turn, has arisen from an order dated 17.03.2008 passed by the Assessing Officer, under Section 271(1)(c) of the Act, pertaining to the assessment year 2002-03. 10. In this case, the Assessing Officer vide his order dated 17.03.2008 imposed penalty of ₹ 4,48,14,391/- with respect to the partial disallow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Appeals)-III, Pune dated 31.12.2010 which, in turn, has arisen from an order dated 17.03.2008 passed by the Assessing Officer, under Section 271(1)(c) of the Act, pertaining to the assessment year 2000-01. 13. In this case, the Assessing Officer vide his order dated 17.03.2008 imposed penalty of ₹ 2,83,61,776/- with respect to the partial disallowance of deduction under Section 10A of the Act, which was equivalent to 150% of the tax sought to be evaded. The CIT(A) vide its order dated 31.12.2010 has scaled down the penalty from 150% to 100% of the tax sought to be evaded. Against such scaling down of penalty, t6h e Revenue is in appeal before us vide ITA No. 1042/PN/2011, whereas the assessee by way of cross-objection vide C.O. Nos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,480/- with respect to the partial disallowance of deduction under Section 10A of the Act, which was equivalent to 150% of the tax sought to be evaded. The CIT(A) vide its order dated 31.12.2010 has scaled down the penalty from 150% to 100% of the tax sought to be evaded. Against such scaling down of penalty, the Revenue is in appeal before us vide ITA No. 1041/PN/2011, whereas the a7s sessee by way of cross-objection vide C.O. No. 66/PN/2011 is in appeal challenging the sustenance of penalty by the CIT(A) to the extent of 100% of the tax sought to be evaded. 17. In this regard, it was a common point between the parties that by way of order of the Tribunal dated 10.08.2012 (supra) the quantum proceedings relating to the partial denial of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
