SHIVA MINT INDUSTRIES,,JAMMU vs. DY COMMISSIONER OF INCOME TAX, JAMMU
In the result, the assessee’s appeals are allowed
ITA 650/ASR/2016[2009-10]Status: DisposedITAT Amritsar05 Apr 2018AY 2009-10
Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.649 & 650(Asr)/2016 Assessment Year:2007-08 & 2009-10
For Appellant: Sh. Somil Agarwal, (Ld. Adv.)For Respondent: Sh. Bhawani Shankar (Ld. DR)
Section 253Section 271(1)(c)Section 80I
37,393/- and Rs.45,307/- respectively, however the same was disallowed by the AO, and on confirmation by the Ld. CIT(A) and ITAT, the AO levied the penalty at the rate of 100% tax sought to evaded on the ground of furnishing inaccurate particulars of income.
The Hon’ble Apex Court in the case of CIT vs. Reliance
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