2017 (9) TMI 169

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....able Mr. Justice Akil Kureshi ) 1. Revenue is in appeal against the judgement of the Income Tax Appellate Tribunal dated 09.11.2016 raising following questions for our consideration: 1. Whether the Appellate Tribunal is right in law and on facts in upholding the order of the CIT (A) and thereby cancelling the penalty of Rs. 20,05,740/- levied under section 271(1)(c) of the I.T.Act? 2. Whe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eturns of income itself and the corresponding acceptance of the proposition made by the AO during the course of the assessment proceedings show that the assessee never filed any inaccurate particulars of income. Merely because a claim of deduction made by the assessee did not find favour with the AO, the levy of penalty u/s 271(1)(c ) of the act cannot be justified. For this proposition, we draw s....