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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 ..... l Jasani for the applicant Mr. Tejveer Singh for the respondent ORDER P. C. 1. These Notices of Motion have been taken out in pending appeals filed under Section 260A of the Income Tax Act, 1961 (Act). 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 appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hree appeals are admitted on the following substantial questions of law : (a) Whether on the fats and in the circumstances of the case and in law, the Tribunal was justified in confirming the penalty of Rs. 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 Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty on denial of exemption to interest income under Section 10B of the Act. We find that the issue arising in these appeals is covered in favour of the assessee by the full bench decision 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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