TMI Blog2018 (1) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... id three years under section 271C are liable to be cancelled as agreed given by the learned DR at the time of hearing. We, therefore, uphold the impugned order of the Ld. CIT(A) cancelling the penalties imposed by the A.O. under section 271C of the Act for all the three years under consideration and dismiss these appeals of the revenue. - I.T.A. Nos. 720 to 722/Kol/2016 - - - Dated:- 13-12-2017 - Shri P.M. Jagtap, AM And Shri S.S. Viswanethra Ravi, JM For The Revenue : Shri A. K. Tiwari, CIT And Shri Arindam Bhattacharjee, CIT For The Assessee : Shri Anil Kochar, Adv. ORDER Per Bench These three appeals are preferred by the revenue against a common order dated 20.01.2016 passed by the Ld. CIT(A) 24, Kolkat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers passed under section 201(1) Act and also levied the interest under section 201(1A). He also imposed penalties under section 271C of the Act for the said defaults on the part of the assessee vide three separate orders passed by all the three years under consideration. 3. The penalties imposed by the A.O. under section 271C for all the three years under consideration were challenged by the assessee in the appeals filed before the Ld. CIT(A). Meanwhile, the appeals filed by the assessee against the orders passed by the A.O. under section 201(1)/201(1A) of the Act came to be disposed of by the Ld. CIT(A) vide a common appellate order dated 19.01.2016 whereby he cancelled the demands raised by the A.O. against the assessee for all the thr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e transferred to HWML for an agreed consideration and for a specified period, its right to supply water to consumers in Haldia and conferred the right to HWML to charge and collect the charge thereto directly from the consumers. The terms conditions of such transfer is that HWML shall operate and maintain the existing facilities and establish, operate and maintain the new facilities at its cost. The assessee was to share 50 percent of the cost of rehabilitation/replacement of the existing facility subject to an upper limit of ₹ 5 crores. The assessee was also to share the increase in the power cost over the base power tariff, equally with HWML. During the currency of the agreement, the assessee was to receive only license fee and an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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