2017 (9) TMI 745

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.... the Respondent : Mr. Ved Jain, Ms. Ranu Jain, Mr.Pranjal Srivastava, Advocates ORDER C.M. APPL. 31668/2017 (Exemption) in ITA No. 725/2017 1. Allowed, subject to all just exceptions. C.M. APPL. 27378/2017 (Delay in filing) in ITA No. 595/2017 C.M. APPL. 31669/2017 (Delay in filing) in ITA No. 725/2017 2. For the reasons stated in these applications, the delay in filing these app....

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....of whether AAD can be taxed under Section 28 (1) of the Act, the Assessee did not press its appeal before the ITAT. The issue was in fact decided in favour of a similarly placed party by the Supreme Court in its decision in National Hydroelectric Power Corpn. Ltd. v. Commissioner of Income Tax [2010] 320 ITR 374 (SC). This was obviously a debatable issue that did not warrant penalty. 6. As rega....