2011 (12) TMI 734

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... present appeal under Section 260A of the Income Tax Act, 1961 (for short, the Act) impugns order dated 12th August, 2011 passed by the Income Tax Appellate Tribunal (Tribunal, for short) upholding the levy of penalty by the Assessing Officer and reversing the order passed by the first Appellate Authority. 2. It is not disputed that that the appellant-assessee had claimed depreciation @ 1 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... vise the return even when return for Assessment Year 2008-09 was filed. The explanation of the assessee that the claim was a bona fide error has been examined by the Tribunal and it was found that the assessee has not been able to discharge the onus placed under the explanation to Section 271(1) (c) of the Act. 4. Keeping in view the factual matrix and reasoning given by the Tribunal, we .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X