ACIT, CHENNAI vs. M/S. S & P FOUNDATION P. LTD., CHENNAI
In the result, the appeal filed by the Revenue is allowed
ITA 2084/CHNY/2013[2006-07]Status: DisposedITAT Chennai16 Dec 2021AY 2006-07
Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.2084/Chny/2013 िनधा"रण वष"/Assessment Years: 2006-07 The Assistant Commissioner Of M/S. S & P Foundation P. Ltd., Income Tax, Central Circle Iv(2), Vs. Old No. 27, New No. 38, Madley Road, 46, Nungambakkam High Road, T. Nagar, Chennai 600 017. Chennai. [Pan: Aaics0224K] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Johnson, Addl. Cit : ""थ" की ओर से/Respondent By Shri G. Baskar, Advocate & : Shri I Dinesh, Advocate सुनवाई की तारीख/ Date Of Hearing 02.12.2021 : घोषणा की तारीख /Date Of Pronouncement : 16.12.2021 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) Ii, Chennai, Dated 05.12.2012 Relevant To The Assessment Year 2006-07 In Pursuance To The Order Of The Assessing Officer In Levying Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].
Section 153ASection 271(1)(c)Section 3
set aside and that of the Assessing Officer be restored.”
8. With regard to the deletion of penalty levied under section 271(1)(c) of the Act on the addition income of ₹.1,53,98,570/- [wrongly mentioned as ₹.1,58,98,570/-], the ld. DR Shri G. Johnson, Additional
CIT has submitted that the return filed by the assessee
