9911796707
TMI Blog2018 (12) TMI 1613X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent : Sh. Kumar Hrishikesh, CIT DR ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present penalty appeals have been filed by assessee against order dated 30/06/2014 and 06/02/15 passed by Ld.CIT (A)-15, New Delhi for assessment year 2003-04 on following grounds of appeal: Grounds of ITA No. 4410/del/2014 AY 2003-04: 1. "That the CIT(A) erred on facts and in law in upholding the action of AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... articulars of income by notionally booking profit after taking tariff rate of Rs. 5,92,per unit arbitrarily as against the prevailing market tariff of power charged by HSEB. 3.1 That the CIT(A) erred on facts and in law in not appreciating that no incorrect facts relating to the claim of deduction were disclosed by the appellant and disallowance was made simply on the basis of bona fide differen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, additions were upheld by Ld.CIT (A). Ld.AO accordingly, issued notice under section 274 of the Act, for levy of penalty under section 271(1)(c) of the Act. 3. Aggrieved by penalty order passed by Ld.AO, assessee preferred appeal before Ld.CIT(A), who upheld penalty on account of disallowance under section 80-IA. 4. Aggrieved by order of Ld.CIT (A), assessee is in appeal before us now. 5. Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at, admission of issue on which penalty has been levied would make it apparent that, such addition made is debatable. 8. On contrary, Ld. DR place reliance on orders of authorities below. 9. We have perused submissions advanced by both sides in light of records placed before us. 9.1 It is a case where penalty is levied, on a issue, in respect of which Hon'ble Delhi High Court in assessee's own ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
