2012 (12) TMI 1178

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..... the Assessing Officer has challenged correctness of learned Commissioner of Income Tax (Appeals) s order dated 15th December, 2011, in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2003-04 on the following grounds :- (1) That on the facts and circumstances of the case, the ld. CIT(A) erred both on the facts and in law in deleting the disallo .....

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..... at even though the matter is covered in favour of the assessee, he would nevertheless rely upon the stand of the Assessing Officer. 3. We find that vide order dated 9th June, 2006 in assessee s own case in ITA No. 2160/Kol./2005 for the assessment year 2002-03, Coordinate Bench has, inter alia, observed as follows :- 3. The assessee is a company engaged in manufacturing and trading of tel .....

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..... llowance made by the AO by relying on the said decision of the Hon ble Supreme Court. 5. Heard both the parties perused the record and the orders of the lower authorities. We find that the ld. CIT(A) has rightly deleted the disallowance made by the AO as the interest on sales tax was a compensatory in nature and not a penal in nature. We further find that the ratio of decision as relied by the .....

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