2014 (9) TMI 5

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....nd dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Ahmedabad (hereinafter referred to as 'the Tribunal'), Dated : 28.11.2013, in ITA No. 1267/Ahd/2010, for the A.Y. 2000-01, by which the learned Tribunal dismissed the appeal preferred by the appellant- Revenue and has confirmed the order passed by the learned CIT(A), deleting the penalty impos....

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.... 10A of the Act by excluding other income being dividend income, sale of import licenses etc.. Aforesaid disallowance came to be confirmed by the learned CIT(A), and thereafter, the AO levied penalty under Section 271(1)(c) of the Act to the tune of Rs. 81,84,043/- on the aforesaid addition sustained by the CIT(A). Feeling aggrieved and dissatisfied with the order of the AO, the assessee preferred....

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.... Ms. Bhatt, learned Advocate appearing on behalf of the appellant-Revenue, has fairly conceded that, as such, against the decision of the learned Tribunal for the A.Y. 2001-02, deleting the penalty imposed under Section 271(1)(c) of the Act, the appellant- Revenue preferred an appeal before this Court being Tax Appeal No.2248 of 2010 and the same was dismissed by the Division Bench of this Court v....

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....h the findings of the CIT (Appeals) that the additions were sustained particularly in the quantum appeal by disallowing the expenditure on interpretation of the provisions of law and the part of this amount had been restored to the file of the Assessing Officer for reconsideration. Such being the facts, it did not find the act of the Assessing Officer to levy penalty justifiable." 6. Under the ....