2010 (9) TMI 187

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..... Held that: - it cannot be said that the assessee either concealed the particulars of income or furnished inaccurate particulars of income by harbouring the belief that it was entitled to claim the same - appeal taken by the revenue is rejected. - 1404/2010 - - - Dated:- 17-9-2010 - CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN Mr. Sanjeev Sabharwal, Senior Standing .....

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..... as a debatable one and further that the respondentassessee had neither concealed the particulars of income nor furnished inaccurate particulars of income. In fact, the Tribunal in its impugned order has observed as under :- "7. Agreeing with the reasoning given by the CIT(A) while cancelling the impugned penalty amount we would like to further add that it is a case involving a legal issue on whi .....

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..... of Rs. 598899/- levied u/s 271(1)(c). Accordingly, the order of the CIT(A) in this regard is upheld and the ground of appeal taken by the revenue is rejected." 4. Since the approach of the Tribunal is fair, reasonable and in consonance with law, the impugned order calls for no interference. Accordingly, the present appeal is dismissed in limine but with no order as to costs. - - TaxTMI - T .....

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