2016 (6) TMI 1207

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.... Soparkar, Sr. Adv. ORDER N. K. Billaiya (Accountant Member) 1. This appeal by the Revenue is preferred against the order of Ld. CIT(A)-XIV, Ahmedabad dated 21.03.2013 pertaining to A.Y. 2005-06. 2. The grievance of the revenue relates to the deletion of the penalty of Rs. 39,58,942/- levied u/s. 271(1)(c) of the Act. 3. The roots for the levy of penalty lie in the assessment order ....

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....allowance u/s. 14A was deleted. 5. Thus, the only addition of Rs. 82,99,000/- remains for the levy of penalty made u/s. 271(1)(c) of the Act. 6. A perusal of the orders of the authorities below and also the order of the Tribunal in quantum appeal (supra) show that the assessee has claimed weighted deduction on purchase of Motor vehicles for employees. While confirming the denial of the claim....