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TMI Blog2017 (6) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... f grant-in-aid (on which higher depreciation @ 80% was claimed). However, since the depreciation on Energy Meters itself was restricted to 15% as per (i) above i.e. the rate applicable for normal Plant & Machinery, no actual addition was made in the order on this account." 3. The Assessing Officer treated the above two issues as concealment and furnishing of inaccurate particulars of income and levied penalty under section 271(1)(c) of the Act amounting to ₹ 15,14,62,400/- in the order passed on 26/03/2013. The Ld. CIT-A deleted the penalty on the ground that income in the assessment order has been finally computed on the basis of 'book profit' under section 115JB of the Act and, therefore, no penalty under section 271(1)(c) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted or restored to the Assessing Officer for recomputation and, therefore, penalty levied on those additions/disallowances cannot survive. 7. We have heard the rival submissions and perused the relevant material on record. We find that the Assessing Officer levied penalty in respect to additions/disallowances sustained by the Ld. CIT-A in quantum appeal. On appeal filed by the assessee against the said additions/disallowances, the Tribunal in ITA No. 404/Del/2012 for assessment year 2006-07, has allowed the appeal of the assessee for statistical purposes. In the said appeal, the grounds of appeal raised by the assessee are reproduced as under: "2. Depreciation on energy meters wrongly allowed at 15% as against 80% resulting in a disallowa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... milar set of facts has been decided hereinabove in ground no. 1 of the appeal for the assessment year 2005-06 preferred by the assessee. Following the same, it is held that the assessee is eligible to claim depreciation on energy meters @ 80% and accordingly direct the Assessing Officer to allow the same on the basis of the expenditure incurred on electronic meters/energy meters reflected in the audit report. The Ground No. 2 is accordingly allowed for statistical purposes." 9. The ground No. 3 raised in ITA No. 404/Del/2012 has also been allowed for statistical purpose by the Tribunal as under: "81.2 Under similar set of facts and identical issue has been decided in favour of the assessee in the case of BSES Rajdhani Power Ltd. in the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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