M/S. SPAZE TOWERS PVT. LTD.,GURGAON vs. DCIT, FARIDABAD
In the result, the appeal filed by the Revenue as well as the application filed under Rule 27 of the ITAT Rules by the assessee are dismissed
ITA 2045/DEL/2014[2007-08]Status: DisposedITAT Delhi20 Nov 2018AY 2007-08
Bench: Shri O.P. Kant, Accountnat Member & Shri Kuldip Singh
For Appellant: 1. the Learned CIT(A) has erred in law & facts of the case in sustaining the pen
Section 132Section 132(4)Section 139Section 153ASection 271(1)(c)Section 4
153 A. The said return reflects the correct income which had been declared and surrendered by the assessee during the search. In fact the income declared in the return is. more than the surrendered amount of Rs.
27 crores in the statement recorded u/s 132(4). In such facts and circumstances 1 am afraid penalty cannot be levied u/s 271
