BMW INDUSTRIES LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

68 of the Act is reduced\nfrom the total income then there was no difference between the\nreturned income and assessed income and the tax sought to be\nevaded would be nil. Thus, the penalty is not leviable under section\n271(1)(c) of the Act by virtue of Explanation 4 to Section 271(1)(c) of\nthe

BMW INDUSTRIES LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

68 of the Act is reduced from the total income then there was no difference between the returned income and assessed income and the tax sought to be evaded would be nil. Thus, the penalty is not leviable under section 271(1)(c) of the Act by virtue of Explanation 4 to Section

D.C.I.T CIR - 3,KOLATA, KOLKATA vs. M/S MANTORA OIL PRODUCTS LTD, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2010-11

276C and 277A read with Section 278B of the Income-tax Act, 1961. g) As per details filed assessee paid rent of Rs.15,96,00/- which is not verifiable from the TDES document provided during assessment proceedings. Therefore, AO has to examine this issue also. h) The assessee company has claimed professional charges of Rs.19,94,169/- while

ANJALI JEWELLERS PVT. LTD.,KOLKATA vs. CIT, KOLKATA-IV, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2010-11

276C and 277A read with Section 278B of the Income-tax Act, 1961. g) As per details filed assessee paid rent of Rs.15,96,00/- which is not verifiable from the TDES document provided during assessment proceedings. Therefore, AO has to examine this issue also. h) The assessee company has claimed professional charges of Rs.19,94,169/- while