RELIANCE INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -CIRCLE 3(4) , MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Penalty levied on disallowance of depreciation on KGD6 Block of Rs. 231,99,95,977/- ignoring the facts that the penalty

HINDUSTAN ORGANIC CHEMICAL LTD,MUMBAI vs. ASST CIT CIR 4(2), MUMBAI

In the result, all the appeals of the revenue are dismissed and the appeals of the assessee for AY 2003-04 and 2004-05 are partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

penalty levied on the disallowance of depreciation on stores and spares- Rs.47.46 lakhs. The Ld CIT(A) has confirmed the penalty

ASST CIT CIR 4(2), MUMBAI vs. HINDUSTAN ORGANIC CHEMICALS LTD, MUMBAI

In the result, all the appeals of the revenue are dismissed and the appeals of the assessee for AY 2003-04 and 2004-05 are partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

penalty levied on the disallowance of depreciation on stores and spares- Rs.47.46 lakhs. The Ld CIT(A) has confirmed the penalty

HINDUSTAN ORGANIC CHEMICAL LTD,MUMBAI vs. ASST CIT CIR 4(2), MUMBAI

In the result, all the appeals of the revenue are dismissed and the appeals of the assessee for AY 2003-04 and 2004-05 are partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

penalty levied on the disallowance of depreciation on stores and spares- Rs.47.46 lakhs. The Ld CIT(A) has confirmed the penalty

ASST CIT CIR 4(2), MUMBAI vs. HINDUSTAN ORGANIC CHEMICALS LTD, MUMBAI

In the result, all the appeals of the revenue are dismissed and the appeals of the assessee for AY 2003-04 and 2004-05 are partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

penalty levied on the disallowance of depreciation on stores and spares- Rs.47.46 lakhs. The Ld CIT(A) has confirmed the penalty

ASST CIT CIR 4(2), MUMBAI vs. HINDUSTAN ORGANIC CHEMICALS LTD, MUMBAI

In the result, all the appeals of the revenue are dismissed and the appeals of the assessee for AY 2003-04 and 2004-05 are partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

penalty levied on the disallowance of depreciation on stores and spares- Rs.47.46 lakhs. The Ld CIT(A) has confirmed the penalty

ACIT. CIR.-9(3), MUMBAI vs. M/S VASPARR FISCHER LTD. (NOW M/S. PRESIDENT CONTAINERS LTD.), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

penalty on depreciation, considering that penalty covered by clause (a) of Explanation 4 of section 271(1)(c) instead of clause

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

penalty on depreciation, considering that penalty covered by clause (a) of Explanation 4 of section 271(1)(c) instead of clause

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

penalty on depreciation, considering that penalty covered by clause (a) of Explanation 4 of section 271(1)(c) instead of clause

THE DCIT CIR 3(1), MUMBAI vs. M/S. ICICI BANK LTD. ( ERSTWHILE ANAGRAM FINANCE LTD), MUMBAI

Appeal of the Revenue is dismissed, as above

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: A.Y : 1995-96

penalty levied on disallowance of depreciation on assets leased to Tata Telecom Ltd. is concerned, the amount of penalty is Rs.95

DCIT - (LTU) - 1 , MUMBAI vs. RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the appeals filed by the Revenue and Cross Objections filed by the assessee are dismissed

Bench: Shri G. Manjunatha & Shri Ravish Sood

penalty levied u/s 271(1)(c) of the Act on account of disallowance of depreciation on steel purchase even though

CANA GLASS LTD,MUMBAI vs. ITO WD 9(1)(2), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Pawan Singh, Jm & Shri G. Manjunatha, Am Cana Glass Ltd. Vs. Ito Ward 9(1)(2) Predpl, 52, Natasha House Aayakar Bhavan, Hill Road, Mumbai-400 050 Mumbai – 400 020 Pan/Gir No.Aaacc5587D Appellant) .. Respondent)

penalty imposed in relation to the denial of claim of depreciation also.” 7. Since, the coordinate Bench has deleted the penalty