2015 (9) TMI 1244

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..... f the auditors appears to be a plausible one and cannot be said to be suffering from any perversity. This was not a case whether the Assessee had not disclosed the full details. It had claimed the deduction only on the basis of the report of the auditors as required by the Act.- Decided in favour of the Assessee. - ITA 480/2012, ITA 481/2012 - - - Dated:- 23-9-2015 - S. Muralidhar And Vibhu Ba .....

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..... llowed the claim by referring to the Explanation under Section 80I A (13) of the Act. The additions directed to be made by the AO attained finality with the Assessee not challenging the said order. 4. The AO ordered penalty proceedings to be initiated against the Assessee for furnishing inaccurate particulars of the income. 5. It has been noted by the ITAT in the impugned order that the Expl .....

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..... he Court is of the view that the facts of the present case are different from those in CIT v NG Technologies Ltd (decision dated 1st December, 2014 in ITA 82/2012) relied upon by Mr. Rohit Madan, learned Standing Counsel for the Revenue. That was not a case where a claim was made by the Assessee on the basis of the report of its auditors as statutorily mandated. 7. On the facts of the present c .....

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