2018 (12) TMI 1585

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....ER PER SUCHITRA KAMBLE, JM This appeal is filed by the assessee against the order dated 18/09/2014 passed by CIT(A)-XXVIII, New Delhi for Assessment Year 2010-11. 2. The grounds of appeal are as under:- "1. That the Ld. Commissioner (Appeals) has erred in law as well as in facts by sustaining the penalty order u/s 271(1) (c) of the Assessing Officer ." 3. Assessment in this ca....

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.... before the CIT(A) on Point No. (ii), (iii) & (v) and did not file any appeal for addition on account of depreciation of property i.e. Point No. 1. Therefore, the Assessing Officer issued the penalty notice u/s 271(1)(c) for concealment of income and furnishing of inaccurate particulars. The assessee made submissions before the Assessing Officer. After considering the submissions of the assessee, ....

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....cealment of income or inaccurate furnishing of documents. The Ld. AR relied upon the decisions of the Delhi Tribunal in case of Namaste Voyages Pvt. Ltd. Vs. ITO (2010) 5 ITR 19, wherein it is held that the value of land and building shown as composite figure and depreciation in that regard was inadvertently claimed which was allowed for the past years without reducing value of land does not amoun....

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.... assessee. The case law relied upon by the Ld. DR is not applicable in the present case as in that case the assessee did not disclose the details of the creditors nor their list but merely claimed in the return. In the present assessee's case the assessee claimed the depreciation after filing the details and there was no concealment or inaccurate furnishing of documents as the issue is allowed in ....