2015 (6) TMI 532

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....t : Nishant Mishra ORDER The present appeal is filed by the department against the impugned order dated 28.06.2013 passed by the Income Tax Appellate Tribunal, Delhi in I.T.A. No. 2101/Del./2010 for the assessment year 2002-03, where the Tribunal has cancelled the levy of the penalty under Section-271(1)(c) of the Act. On 12.12.2013, this Court has admitted the appeal on the following sub....

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....x sought to be evaded as NIL totally ignoring that the NIL income was after adjustment and no tax was paid on the returned income and entire amount of TDS was claimed as refundable. (4) Whether on the facts and circumstances of the case, the ITAt was justified in deleting the penalty on the quantum of addition of Rs. 3,55,85,515/- assessed u/s 115-A, without appreciating the fact that the quant....

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.... off shore design and engineering were offered to tax in India by Technip. The revenues from off shore supply of equipment were not considered to be chargeable to tax in India. But the A.O. has not accepted this plea and made the addition. At the same time on off shore supply and on estimation of the G.P., after rejecting the books of account under Section- 145 of the Act, the A.O. has levied t....

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....he manner of income on account of design and engineering fees. There is no dispute that the computation of income was duly disclosed by the assessee and accepted by the A.O. In these circumstances, the entire addition was deleted by both the appellate authorities. Later, this Hon'ble Court upholds the same by dismissing the appeal filed by the department. When the addition was deleted in qu....