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TMI Blog2018 (3) TMI 528X X X X Extracts X X X X X X X X Extracts X X X X ..... Vs. Hewlett Packard Global Soft Ltd. [2017 (11) TMI 205 - KARNATAKA HIGH COURT]. We find that for subsequent assessment years, the assessee has been granted the benefit of deduction under Section 10B of the Act to the extent of its interest income. We find from the affidavit in reply dated 7th February, 2018 filed by Mr. Waseem Ur Rehman, Joint Commissioner of Income Tax (OSD), Mubmai that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... These appeals are from a common order dated 7th August, 2015 passed by the Income Tax Appellate Tribunal (Tribunal) relating to Assessment Years 1997-98, 1998-99 and 1999-2000. 2. All the appeals were awaiting admission. However, pending the admission of the appeals, the respondent had initiated proceedings under Section 276C, 227 r/w 278B of the Act for prosecuting the applicant and its offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty of ₹ 2,11,42,490/levied under Section 271(1)(c) of the Act ? (b) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that penalty under Section 271(1)(c) of the Act was to be levied merely because the appellant's claim of exemption in the return of income has not been accepted by the Revenue? (c) Whether on the facts of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Karnataka High Court in Commissioner of Income Tax Vs. Hewlett Packard Global Soft Ltd. 87 taxmann.com 182. Moreover, we find that for subsequent assessment years, the assessee has been granted the benefit of deduction under Section 10B of the Act to the extent of its interest income. 7. We find from the affidavit in reply dated 7th February, 2018 filed by Mr. Waseem Ur Rehman, Joint Commiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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