DCIT, CIRCLE 22(2), NEW DELHI, NEW DELHI vs. SAHIL VACHANI, DELHI

Appeal of the Revenue stands dismissed

Bench: Shri Mahavir Singh, Vice Presdient (), Shri Vikas Awasthy& Shriavdhesh Kumar Mishraआअसं.2604/िद"ी/2023(िन.व. 2016-17)

deduction, therefore the AO initiated penalty proceedings u/s. 271(1)(c) for furnishing inaccurate particulars of income and levied penalty

M/S. PADMINI INFRASTRUCTURE DEVELOPERS INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the Assessee is allowed for statistical purposes

Bench: Shri K.N. Chary & Shri Anadee Nath Misshra

deduction claimed by the assessee U/s 80IB(10) of the I.T. Act was disallowed. In this Assessment Order, the Book Profit for the purposes of Section 115JB was determined at Rs. 3,61,09,972/-. Penalty proceedings U/s 271

HINDUSTAN COCA COLA MARKETING COMPANY PVT. LTD.,GURGAON vs. DCIT, CIRCLE-11(2), NEW DELHI

The appeal is partly allowed and the stay

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

271(1)(c) of IT Act. The penalty has been levied in respect of disallowances of Rs. 13,97,08,721/- and Rs. 15,07,658/- U/s 40A(i)(a) of IT Act, totaling Rs. 14,12,16,379/-. 3. Aggrieved, the Assessee filed appeal against the aforesaid order dated 23.03.2016, before the Ld. CIT(A). Vide order dated

ACIT, NEW DELHI vs. M/S. RESURGERE MINES AND MINERALS INDIA LTD., MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

deduction u/s 36 (1) (iii) for interest paid on loan taken for purchase of shares. The AO disallowed the interest u/s 14A and levied penalty u/s 271

DCIT, CIRCLE-3(2), NEW DELHI vs. ASIAN CONSOLIDATED INDS.LTD), REWARI

Appeal is dismissed

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singhassessment Year: 1997-98

penalty u/s 271(1)(c) especially the limb -fumishing inaccurate particulars of income in spite of the fact that the claim of deduction

GE JENBACHER GMBH & CO. OHG,GURGAON vs. DCIT, CIRCLE- 1(3)(1), INTERNATIONAL TAXATION , NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GE JENBACHER GMBH & CO. OHG,GURGAON vs. ACIT (INTERNATIONAL TAXATION), NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GE JENBACHER GMBH & CO.,GURGAON vs. DCIT, CIRCLE- 1(3)(1), INTERNATIONAL TAXATION , NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GE PACKAGED POWER INC.,GURGAON vs. DCIT (INTERNATIONAL TAXATION), CIRCLE-1(3)(1), NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

ADIT, NEW DELHI vs. GE JENBACHER GMBH & CO., GURGAON

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GENERAL ELECTRIC POWER SYSTEMS INC.,GURGAON vs. DCIT, CIRCLE- 1(3)(1), INTERNATIONAL TAXATION, NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GE JENBACHER GMBH & CO. OHG,GURGAON vs. DCIT, CIRCLE- 1(3)(1), INTERNATIONAL TAXATION , NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

GE PACKAGED POWER INC.,GURGAON vs. DCIT (INTERNATIONAL TAXATION), CIRCLE-1(3)(1), NEW DELHI

In the result, all the eight appeals are allowed for statistical purposes and all the

Bench: Smt. Beena A. Pillai & Shri Anadee Nath Misshra

penalty u/s 271(1)(c) of IT Act could be imposed on a debatable issue.” 4) The reliance placed by the Ld. DR on PCIT vs. M/s Shree Gopal Housing and Plantation Corporation (supra) does not help the case of Revenue because even in that case also, the Hon’ble Bombay High Court has held: “5. In fact, the admission

M/S NICOTRA INDIA PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

u/s 271(1)(c) of Income-tax Act, 1961. 3. That all the facts relating to statutory deduction was on record and claim of statutory deduction was only in the computation and as such there is no case of furnishing of inaccurate particular of income and imposition of penalty

M/S NICOTRA INDIA PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

u/s 271(1)(c) of Income-tax Act, 1961. 3. That all the facts relating to statutory deduction was on record and claim of statutory deduction was only in the computation and as such there is no case of furnishing of inaccurate particular of income and imposition of penalty

DCIT, FARIDABAD vs. M/S SUCON INDIA LTD, FARIDABAD

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year : 2009-10

deduction which has not been accepted by the Revenue, the penalty u/s 271(1)(c) cannot be attracted. If the contention

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT CC-2 , FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

u/s 274 read with section 271(1)(c) of the Act is also enclosed” 15.2 In the absence of nature of default discernible from the directions of AO at the time of framing the assessment order, consequent penalty proceedings itself is unsustainable in law. In parity with ITA no. 2631/D/2019 and 939/D/2019 supra, the entire penalty proceedings is void

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. CCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

u/s 274 read with section 271(1)(c) of the Act is also enclosed” 15.2 In the absence of nature of default discernible from the directions of AO at the time of framing the assessment order, consequent penalty proceedings itself is unsustainable in law. In parity with ITA no. 2631/D/2019 and 939/D/2019 supra, the entire penalty proceedings is void