In the result, the appeal is allowed
Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)
273B of the Act. Even, otherwise also, penalty under section 271(1)(c) of the Act has been imposed alleging furnishing of inaccurate particulars of income. However, facts on record reveal that all material facts relating to investments in shares and mutual funds as well as capital gain/loss derived therefrom have been furnished by the assessee before the Assessing Officer