HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. DCIT, NEW DELHI
Appeals of the assessee stands allowed
ITA 5234/DEL/2011[2001-02]Status: DisposedITAT Delhi18 Oct 2019AY 2001-02
Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava
For Appellant: Shri Gagan Kumar
Section 271Section 271(1)(c)Section 274Section 36Section 36(1)(viii)Section 41
u/s 274
read with section 271, penalty levied is not sustainable. The operative part of the judgment is reproduced as under:-
“59. As the provision stands, the penalty proceedings can be initiated on various ground set out therein. If the order passed by the Authority categorically records a Housing and Urban Development Corporation Ltd. vs. DCIT finding regarding the existence
