EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

section 143(3) of the Act, in the Assessment Year 2003-2004. 8. The CIT has allowed the average cost worked out by the assessing officer for the assessment year 2003 - 04 in the case of M/s Vectra Holdings P Limited, an associate company fo the appellant. ITA Nos.1569, 1600, 1607 & 1608/Bang/2014 Page

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE