2019 (1) TMI 1631

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..... r the respondent   P.C. 1. This appeal is filed by the Revenue to challenge the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) raising following question for our consideration :­ "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal is justified in deleting the penalty levied u/s 271(1)(c) of the Act without appreciating th .....

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..... f   the   Act   came   to   be   deleted   by   the   Tribunal   by   the impugned judgment. The Tribunal pressed in service several grounds for deleting the penalty.   However, it is not necessary to examine such grounds since only on the first ground recorded by the Tribunal, i .....

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..... t whatever be the better method of accounting, this was not a case of concealment of income leading to penalty.  The Tribunal noted that the addition of Rs. 28.62 crores  had the  genesis in   the  estimation  on  one  side  and  preponement  of  the expenditure on the other, based on change of method of accounting. Thus, in clear te .....

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