2018 (1) TMI 982

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..... se are that the assessment proceedings u/s 143(3) were completed on 31.12.2010 wherein an addition of Rs. 61,06,26,670/- was made by the Assessing Officer. Separately, penalty proceedings were initiated u/s 271(1)(c) of the Act. 3. On appeal, the ld. CIT(A) deleted the addition to the extent of Rs. 57,15,59,130/-. The additions which was sustained by the ld. CIT(A) relates to claim u/s 80IA in respect of power plant amounting to Rs. 3,62,55,540/- and disallowance of interest in relation to investment made with the subsidiary companies amounting to Rs. 28,12,000/-. 4. Subsequent to receipt of the ld. CIT(A) order dated 30.03.2012, a fresh show cause notice was issued to the assessee on 07.01.2014. After considering the submission of the as .....

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..... d. CIT(A) held that the limited issue remaining to be decided in the instant appeal is that once the very basis of levy of penalty being the assessment order, does not survive in its original form & is directed to be framed afresh by a higher judicial authority on the issues on which the penalty was levied, then by consequence, the penalty relevant upon the same order cannot survive. The penalty of Rs. 1,23,23,258/- (wrongly mentioned as Rs. 3,62,55,540/-) was therefore directed to be deleted by the ld. CIT(A). 8. Now the Revenue is in appeal before us. The ld DR supported the order of the Assessing officer. 9. We have heard the rival contentions and purused the material available on record. Firstly, we refer to the relevant finding of th .....

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..... ame methodology, the expenses in relation to generation of steam needs to be identified and properly accounted for. The ld. CIT(A) has not given any basis as to how he has determined 15% an appropriate basis. Similar is the case where the ld. CIT(A) has held that the cost of gas consumption has been understand by Rs. 20,83,589/-. In our view, the matter require a fresh examination and we accordingly set aside these two matters to the file of the AO." "As we have stated above, the authorities below have not examined the matter after taking into consideration the provisions of section 80A(6) of the Act. In the interest of justice and fair play, we deem it appropriate to refer the matter back to the file of the AO to examine the matter a fre .....

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