2017 (5) TMI 1470

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ant has assailed the judgment and order of the Tribunal whereby the Tribunal has dismissed the appeal of the department. 2. Counsel for the appellant has framed the following substantial question of law. "Whether on the facts and circumstances of the case the ITAT was justified in cancelling the penalty of Rs. 12809428/- imposed by the Assessing Officer u/s 271(1)(c) and holding that claim of e....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n be levied. The ld CIT(A) has also stated that order of the Hon'ble Rajasthan High Court in Income Tax Appeal No. DBITA No. 53/2011 dated 9.12.2010 has been placed on record wherein the Hon'ble High Court has admitted the substantial question of law in respect of disallowance of depreciation claimed by the assessee. Further, our reference was drawn to the decisions of Coordinate Benches in case o....