M/S. STANDARD WATCH CO. (P) LTD.,NEW DELHI vs. DCIT, NEW DELHI
In the result, the appeal filed by the Assessee stands allowed
ITA 3076/DEL/2014[2001-02]Status: DisposedITAT Delhi14 Dec 2016AY 2001-02
Bench: Shri H.S. Sidhu & Shri O.P. Kant
For Appellant: Sh. Raj Kumar, CAFor Respondent: Sh. S.K. Jain, Sr. DR
Section 139Section 143(3)Section 147Section 148Section 151Section 151(1)Section 271(1)
271(1)©.
3. That under the facts and circumstances, levy of penalty
@200% is very – very excessive and without any cogent reason.
2. The facts narrated by the Revenue Authorities are not disputed by both the parties, therefore, the same are not repeated here for the sake of convenience.
3. At the time of hearing, Ld. Counsel of the Assessee
