DEPUTY COMMISSIONER OF INCOME TAX(IT)-2(1)-2, MUMBAI, MUMBAI vs. DZ BANK INDIA REPRESENTATIVE OFFICE, MUMBAI

In the result, the appeals by the Revenue and the cross-objections by the assessee are dismissed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

u/s 148 rws 147 of the Act. 4. Whether on the facts of the case and in law the Id. CIT(A) has erred in deleting the penalty by holding that the income determined after reassessment was subjective and open to interpretation, whereas the facts are different and heads of income have been confirmed by the ITAT and only