2013 (3) TMI 656

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....his appeal by the Revenue for assessment year 2008-09, although several questions have been formulated in the memo of appeal, the basic dispute is whether the Tribunal was justified in deleting the penalty under Section 271(1)(c) of the Income Tax Act, 1961 levied upon the respondent - assessee by the assessing officer. 3. The respondent - assessee had originally filed its return of income clai....

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....was levied upon the respondent - assessee by the assessing officer. The Commissioner of Income Tax (A) upheld the order of the assessing officer levying penalty. 4. On further appeal, the Tribunal deleted the penalty as it found that this was a case of bona fide clerical error while computing the tax liability in the process of filing its return of income. However, as the same was rectified by ....