2011 (10) TMI 649

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....: Shri S.N.Soparkar, Sr-AR ORDER PER A.L.Gehlot, Accountant Member:- This is an appeal by the Revenue. The assessment involved in this appeal is 1998-99. The appeal is instituted against the order of the CIT(A)-XIV, Ahmedabad, dated 28-12-2005. This appeal arises out of the penalty order u/s 271(1)(c) of the Income-tax Act, 1961. Ground reproduced as under:-  "1. The ld. CIT....

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..... 35,54,409/- 5) Excess deduction of 29,03,572/- disallowed u/s 80IA claimed on other income of Rs. 96,78,575/-" The Ld. CIT(Appeals) partly allowed the assessee's appeal upholding the penalty addition in respect of addition of Rs. 1,42,06,989/- and cancelled the penalty on other additions. The Revenue is in appeal against cancellation of penalty by the Ld. CIT(A). 3. We have heard ....