2015 (3) TMI 1199

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....GUPTA, VICE PRESIDENT This appeal by the revenue for the assessment year 2006-07 is directed against the order of CITA. The only ground of the appeal of the revenue is as under :- "Whether the Ld. CIT(A) has erred in law and on facts in deleting the penalty u/s 271(1)(c) amounting to Rs. 1,07,50,171/-." 2. The Ld. DR referred to the relevant portion of the penalty order passed u/s 2....

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.... the file of the AO by the Tribunal and accordingly the penalty with respect to these two items of disallowance may be deleted. With regard to the addition made on account of the disallowance of Repair and Maintenance in respect of leased building, he submitted that the same has been held as capital expenditure and the addition was made based on information and facts made available by the assessee....

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....he rival submissions and have perused the order of the AO. With regard to the disallowance of Additional Depreciation and of Exemption u/s 10B of the Act, the matter has been restored to the file of the AO to determine the same afresh in accordance with law as per the directions of the Tribunal and the matter is still pending before the AO. In these facts, we cancel the penalty levied u/s 271(1)(c....

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....disallowance has been confirmed in appeal by the appellate authority. However, the disallowance was made on the basis of information and facts made available to the AO by the assessee itself. The fact that assessee has in fact spent the amounts in question, is not in doubt. Moreover, it is a clear case of difference of opinion with regard to the allowability of certain claim of expenditure made by....