2014 (11) TMI 106

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... no merit in the contention of the revenue - there was no concealment nor the particulars have been termed as inaccurate and for the subject AY - It is on these findings that the penalty has been deleted – the order of the Tribunal is upheld – Decided against revenue. - INCOME TAX APPEAL NO.1293 OF 2012 - - - Dated:- 24-9-2014 - S.C. DHARMADHIKARI AND A. K. MENON, JJ. Mr. Vimal Gupta, Seni .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... uine transactions and made by the Assessee was not accepted by the Revenue. However, the Assessee persisted and claimed depreciation in the assessment year in question as well. The Commissioner as also the Tribunal found that there is no concealment of particulars of income nor furnishing of inaccurate particulars of income for the assessment year. 3] The argument of Mr. Vimal Gupta is that whe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . Pertinently, it has been deleted also Qua other claims but the Revenue raised deletion of penalty on lease transaction as the only substantial question of law. For all these reasons, we do not find that the Tribunal's order is either perverse or vitiated by any error of law apparent on the face of the record. There is no merit in the Appeal. It is, accordingly, dismissed. No costs. - - T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X