2019 (4) TMI 977

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..... hile deleting the penalty observed that the assessee had raised a claim which was based on bonafide interpretation of the provisions of the Act, was not a case where assessee had made intentionally a wrong claim - HELD THAT:- We are broadly in agreement with the view of the Tribunal. The assessee had made a bonafide claim. It may be that such claim was not accepted by the High Court. That by itsel .....

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..... These appeals arise in similar background. We may record facts from record of Appeal No.67 of 2017. 2. This appeal is filed by the revenue to challenge the judgment of the Income Tax Appellate Tribunal. Following question was presented for our consideration: Whether on the facts and in the circumstances of the case and in law, ITAT was justified in deleting the concealment penalty under .....

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..... allowed the revenue s appeal against which we are informed that Special Leave Petition is filed and appeal is admitted. Parallelly the penalty proceedings ensued. The Tribunal while deleting the penalty observed that the assessee had raised a claim which was based on bonafide interpretation of the provisions of the Act, was not a case where assessee had made intentionally a wrong claim. 4. We .....

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