2012 (9) TMI 957

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.... Income Tax Act, 1961 arises out of the common order dated 21.01.2011 of the Income Tax Appellate Tribunal, Bench 'A', Ahmedabad passed in ITA No. 3615 of 2008 and 3616 of 2008, and relates to in so far as the said common order decides ITA No. 3616 of 2008 for Assessment Year 2004-2005. 1.1 The following question is raised by the appellant proposing it as a substantial question of law in ....

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....30/- under section 271(1)(c) of the Act by order dated 25.03.2008. The Commissioner of Income Tax (Appeals) deleted the penalty allowing the appeal of the assessee by order dated 12.08.2008. Thereafter, Revenue preferred appeal before Income Tax Appellate Tribunal which culminated into the impugned order. 5. On consideration of the impugned order and the facts on record, it could be seen that whe....

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....e keeping in view the ratio of judgment of the Hon'ble Supreme Court in the case of Reliance Petrol Products Pvt. Ltd." 6.1 The deletion of addition by the Tribunal in the quantum appeal preferred by the assessee was decisive. The Tribunal correctly placed reliance on the decision of the Supreme Court in Reliance Petrol Products Ltd. (322 ITR 158) that making incorrect claim by itself does no....