9911796707
TMI Blog2018 (12) TMI 1613X X X X Extracts X X X X X X X X Extracts X X X X ..... levant assessment year under consideration, has framed substantial question of law. It thus becomes apparent that addition is debatable. Accordingly, in view of judgment of the Hon’ble Delhi High Court in the case of CIT vs. Liquid Investment & Trading Company (2010 (10) TMI 1021 - DELHI HIGH COURT), we find no reason to interfere with the act of the Ld. CIT (Appeals) in deleting the penalty. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Act, 1961 for alleged furnishing of inaccurate particulars of income. 2. That on the facts and circumstances of the case, the CIT(A) erred on facts and in law in not holding that the penalty order dated 21.03.2012 passed by the AO u/s 271(1)(c) of the Act was beyond jurisdiction, bad in law and void ab initio, since no satisfaction qua concealment/furnishing of inaccurate particulars of incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ime of hearing. Grounds of ITA No. 2770/del/2015 AY 2006-07 1. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) right in ignoring the fact that the Hon ble ITAT has already confirmed the disallowance of deduction u/s 80IA. 2. The appellant craves leave, to add, alter or amend any ground of appeal raised above at the time of the hearing. 2. Brief fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 017/15 and 19/11/15 respectively, admitted question of law in respect of addition, on which penalty has been confirmed by Ld.CIT(A). The question of law as framed by Hon ble High Court is as under: 1. whether the income tax appellate tribunal was right in disallowing the claim under section 80 IA of the Income Tax Act, 1961 for violation of subsection (8). 2. 6. The above referred o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecomes apparent that addition is debatable. 10. We draw support in respect of afore stated view from order dated 05/10/10 passed by Hon ble Delhi High Court in case of CIT vs Liquid Investment and Trading Co., (supra). We are, therefore, inclined to delete the penalty. Accordingly grounds raised by assessee stands allowed. In the result appeal filed by the assessee stands allowed. O ..... X X X X Extracts X X X X X X X X Extracts X X X X
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