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TMI Blog2014 (6) TMI 332X X X X Extracts X X X X X X X X Extracts X X X X ..... This is an Appeal by the Assessee directed against the Order by the Commissioner of Income Tax (Appeals)-22, Mumbai ('CIT(A)' for short) dated 28.02.2012, confirming the levy of penalty u/s. 271(1)(c) of the Income Tax Act, 1961 ('the Act' hereinafter) for the assessment year 2004-05, vide order dated 28.03.2011. 2. The present appeal, at the instance of the assessee, contests the confirmation o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs, there has been no appeal by the Revenue against the said order by the tribunal, so that the relief allowed to the assessee has become final. Two, the purview of the hon'ble court in appeal would only be on matters involving substantial question of law. As such, to the extent the assessee's explanation in respect of the adjustments confirmed for disallowance concern matters of fact - which we o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n on completed/uncompleted contracts: The same is in respect of eleven (11) contracts. The provision stands accepted by the tribunal in six cases, while not in the balance five. The confirmation of the disallowance by the tribunal is on the premise that what has been claimed are only in the nature of and by way of estimates, so that no definitiveness could be ascribed thereto. In our view, what a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tark Controls India (P) Ltd. vs. CIT [2009] 314 ITR 62 (SC). The matter thus is principally factual. In this regard, we observe that while the assessee claims to have followed the mandate of the Accounting Standard (AS) - 7, advocating percentage completion method, by making an informed estimate based on a technical assessment/s, the Revenue finds the impugned provision to have no basis in facts, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as final. However, in the absence of any appeal by the Revenue, the penalty to that extent stands automatically vacated. We decide accordingly. b & c) Disallowance of software expenses and disallowance of deduction u/s.80-HHB: Without doubt, there is no question of any penalty in view of the order by the tribunal in the quantum proceedings deleting the disallowance. Even where challenged by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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