2007 (9) TMI 636

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..... Income Tax Appellate Tribunal, Delhi Bench 'H' in ITA No.1053/Del/2006 relevant for the assessment year 2001-2002. The Assessee is engaged in the business of export of engineering goods and installation and commissioning of equipment at the site of the customer and providing other services as per the requirement of the customers. The Assessee had filed a return claiming a deduction .....

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..... . Issue ITNS 150, Demand Notice and Challan. Penalty proceeding u/s 271(1)(c) have been initiated. Thereafter the Assessing Officer passed an order dated 27th July, 2005 under Section 271(1)(c) of the Act levying a penalty of ₹ 5,50,112/- on the Assessee. Feeling aggrieved, the Assessee preferred an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)]. By his order dated 13t .....

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..... ercial Enterprises Ltd., we find that on merits, the concurrent view taken by the CIT (A) as well as the Tribunal is unexceptionable. Both the authorities have found that no case of either concealment of income or furnishing of inaccurate particulars by the ? Assessee had been made out by the Assessing Officer. We too find that the issues involved in the assessment were debateable and even if t .....

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